KUALA LUMPUR, May 15 — Amway (Malaysia) Holdings Bhd's pre-tax profit for the first quarter ended March 31, 2015 surged 45.8 per cent to RM50.04 million from RM34.32 million recorded in the same quarter last year.
Its revenue rose 51 per cent to RM321.99 million versus RM213.29 million previously, mainly due to pre-GST buy up and well received pre-GST promotions focusing on high-value items during the period.
In a filing to Bursa Malaysia, the company said the implementation of GST would likely have an adverse impact on its business owners’ purchases in the subsequent quarters.
"The Board expects 2015 to be an extremely challenging year in view of the impact of both the strength of US dollar on cost of importation and the expected period of adjustment in market demand post-GST.
“However, the group will stay focused on supporting our business owners to grow their businesses through various sales and marketing initiatives," it said.
The company declared a first interim single-tier dividend of 10.0 sen net per share. — Bernama
