Beshom

After 46 outstanding years as Hai-O Enterprise Bhd, we look forward to the future as we preserve the best of our legacy.
We are excited to invite you into our new home.

海鸥集团历经时光淬砺,46年来发展一枝独秀。
展望未来,集团整装待发,以焕然一新的英文名字营造美满的新“”。
此番华丽转变,公司优良传统不变,文化企业精神亦如初衷。

Beshom

Beshom Holdings Bhd is the new “HOME” of Hai-O’s group of companies, a Public Listed Company on the Main Market of Bursa Malaysia Securities Berhad.
Beshom has assumed the listing status of Hai-O Enterprise Bhd on
29 November 2021.

Welcome to BESHOM.

最佳生活    始于家元
海鸥控股有限公司(Beshom Holdings Bhd),2021年11月29日,
正式延续海鸥企业有限公司在大马股票交易所主板的上市地位。

欢迎光临我们的新“”——BESHOM。

News

Hai-O’s latest financial results in line with expectations

Hai-O’s latest financial results in line with expectations
Source:
The Star

PETALING JAYA: Hai-O Enterprise Bhd’s latest financial results are in line with Affin Hwang Capital Bhd’s expectations.

 

“Hai-O reported a nine months to Jan 31, 2017 core net profit improvement of 63% year-on-year to RM41mil, in line with our estimates but above consensus, accounting for 74% and 80% of full-year estimates.

 

“The group’s multi-level-marketing (MLM) division continued to drive earnings as the number of distributors continued to grow strongly. We maintain our earnings and ‘buy’ with a target price of RM3.93 post the company’s recent 1-for-2 bonus issue,” Affin said in a report.

 

The research house said the group’s 9M17 results continued to be driven by its MLM division (75% of revenue) where turnover and profit before tax for its MLM segment increased by 59% year-on-year and 80% year-on-year to RM213.3mil and RM42.3mil, respectively.

 

 

“We attribute this to the group’s growing distributor force which is currently growing at an average of 6,000 distributors per month and has reached over 100,000 distributors year to date.

 

“We believe its ‘small ticket’ items in the personal and household, beverage and healthcare segments and the launch of two new products in the food and beverage category during the financial year also have contributed positively to earnings,” Affin said.

 

It added that the wholesale division (14% of revenue) recorded a decrease in revenue of 4% year-on-year due to the increase in average selling price which affected sales volume, but saw earnings before interest and tax (Ebit) rise strongly by 42% year-on-year to RM6.9mil due to higher margin sales from premium products.

 

The retail division posted a slight drop in revenue by 3% year-on-year due to weak consumer sentiment but an increase in EBIT by 42% to RM1mil due to the rationalisation of non-performing outlets.