KUALA LUMPUR (Jan 24): DXN Holdings Bhd posted a 16.47% rise in net profit to RM78.36 million in the third quarter ended on Nov 30, 2024 (3QFY2024) from RM67.28 million a year ago, underpinned by higher revenue.
Earnings per share increased to 1.57 sen from 1.39 sen previously, its Bursa Malaysia filing showed on Wednesday.
Quarterly revenue edged higher by 2.52% to RM450.29 million against RM439.22 million previously, on the back of continuous sales growth in the Latin American and Indian region.
The global health and wellness direct selling group company declared a third interim dividend of 0.9 sen per share, to be paid on March 8.
For the nine-month period (9MFY2024), net profit increased by 5.34% to RM231.98 million from RM220.23 million in the same period last year.
Revenue, meanwhile, climbed by 10.83% to RM1.33 billion from RM1.2 billion.
On a quarterly basis, net profit came in higher against the RM76.02 million registered in the immediate preceding quarter (2QFY2024) while revenue was lower compared with RM458.31 million in 2QFY2024.
DXN's founder and executive chairman Datuk Lim Siow Jin said the establishment of new production facilities in China, India and Dubai in 2023 have put them in a strong position to accelerate growth in its existing and new markets, such as Latin America and India.
“We will continue to capitalise on our large global network of active members and broad product portfolio of health-oriented and wellness consumer products to drive revenue growth. We are committed to optimising productivity and effectively managing our working capital to strengthen our financial position,” he said.
Moving forward, the group is committed to achieving revenue growth, optimising productivity and managing working capital.
“We are cautiously optimistic to continue achieving growth in the financial year 2024.
“By establishing several new production facilities in the financial year 2024, we have created opportunities for further growth in both our current and new markets, such as Latin America and India,” it said.
DXN shares closed half a sen or 0.75% lower at 66.5 sen, giving the group a market capitalisation of RM3.32 billion.