KUALA LUMPUR (Feb 15): Amway (Malaysia) Holdings Bhd net profit for the fourth quarter ended Dec 31, 2011 rose 36.1% to RM24.93 million from RM18.31 million a year earlier, due mainly to improved gross margin arising from the lower cost of products and lower operating expense.
Revenue for the quarter dipped marginally to RM182.37 million from RM184.10 million in 2010. Earnings per share rose to 15.15 sen from 11.14 sen in 2010, while net assets per share was RM1.17.
Amway declared a fourth interim single tier dividend of nine sen net per share for the financial year ended Dec 31, 2011, to be paid on March 30, 2012.
The company also announced that it was adopting a dividend payout ratio of no less than 80% of the company’s current year net earnings from the financial year 2012.
For the financial year ended Dec 31, Amway’s net profit was up 14.9% to RM89.99 million from RM78.32 million in 2010, while revenue rose to RM735.81 million from RM719.41 million.
Reviewing its performance, Amway said on Wednesday that its sales revenue recorded an increase of 2.3% for the year ended Dec 31, 2011due to aggressive sales and marketing programs to stimulate demand in support of Amway distributors’ retailing and sponsoring activities.
On its outlook, Amway said it expects to achieve single digit growth in sales revenue for the financial year in 2012 due to the continuous uncertainty in global economic outlook.
It said that the outlook was realistic based on current market conditions and currently available information.
“The target will be reviewed periodically by the board of directors and any subsequent changes will be conveyed to the market in accordance with Bursa Malaysia Securities Berhad Main Market Listing Requirements.
“The above is internal management target and is not an estimate, forecast or projection. In addition, this internal target has not been reviewed by our external auditors,” it said.
On its dividend policy, Amway said it would maintain the payout ratio of 80% subject to, amongst others, cash and distributable reserves available for the dividend payout.
“The board will reassess this dividend policy on an ongoing basis to ensure efficient distribution of dividends to shareholders and to ensure that the company’s dividend payment will continue to reflect the group’s underlying financial performance.
“Shareholders should note that this dividend policy describes the company’s present intention and shall not constitute legally binding obligations with respect to the company’s dividends which may be subject to modifications at the board’s discretion,” it said.
Revenue for the quarter dipped marginally to RM182.37 million from RM184.10 million in 2010. Earnings per share rose to 15.15 sen from 11.14 sen in 2010, while net assets per share was RM1.17.
Amway declared a fourth interim single tier dividend of nine sen net per share for the financial year ended Dec 31, 2011, to be paid on March 30, 2012.
The company also announced that it was adopting a dividend payout ratio of no less than 80% of the company’s current year net earnings from the financial year 2012.
For the financial year ended Dec 31, Amway’s net profit was up 14.9% to RM89.99 million from RM78.32 million in 2010, while revenue rose to RM735.81 million from RM719.41 million.
Reviewing its performance, Amway said on Wednesday that its sales revenue recorded an increase of 2.3% for the year ended Dec 31, 2011due to aggressive sales and marketing programs to stimulate demand in support of Amway distributors’ retailing and sponsoring activities.
On its outlook, Amway said it expects to achieve single digit growth in sales revenue for the financial year in 2012 due to the continuous uncertainty in global economic outlook.
It said that the outlook was realistic based on current market conditions and currently available information.
“The target will be reviewed periodically by the board of directors and any subsequent changes will be conveyed to the market in accordance with Bursa Malaysia Securities Berhad Main Market Listing Requirements.
“The above is internal management target and is not an estimate, forecast or projection. In addition, this internal target has not been reviewed by our external auditors,” it said.
On its dividend policy, Amway said it would maintain the payout ratio of 80% subject to, amongst others, cash and distributable reserves available for the dividend payout.
“The board will reassess this dividend policy on an ongoing basis to ensure efficient distribution of dividends to shareholders and to ensure that the company’s dividend payment will continue to reflect the group’s underlying financial performance.
“Shareholders should note that this dividend policy describes the company’s present intention and shall not constitute legally binding obligations with respect to the company’s dividends which may be subject to modifications at the board’s discretion,” it said.
