KUALA LUMPUR (Oct 25): DXN Holdings Bhd's net profit for the second quarter ended Aug 31, 2023 (2QFY2024) rose by a marginal 0.3% to RM76.02 million from RM75.79 million a year ago.
However, revenue increased 15.7% to RM458.31 million, from RM396.21 million a year ago, mainly due to continuing sales growth in Latin America, India and the Middle East, attributed to the return of members' activities and positive market sentiment post Covid-19, as well as a larger product range in the regions, the group said in a filing with Bursa Malaysia on Wednesday.
DXN declared a second interim dividend of 0.9 sen per share in respect of the financial year ending Feb 29, 2024 (FY2024), payable on Nov 30, 2023.
The health and wellness direct selling group's net profit for the first half ended Aug 31, 2023 (1HFY2024) rose 0.4% to RM153.62 million from RM152.95 million a year ago.
Revenue for the period increased 16.6% to RM882.29 million from RM756.6 million.
On its prospects, DXN said it is "in a strong position to generate sufficient cash from its business operations to finance the capital expenditure as well as dividend payout with increasing surplus added to the cash and cash equivalent for the current quarter".
DXN shares closed half a sen or 0.8% higher at 63 sen on Wednesday, giving the group a market capitalisation of RM3.14 billion.