KUALA LUMPUR (Jan 27): Multi-level marketing company DXN Holdings Bhd (KL:DXN) reported a 30.2% drop in its third-quarter net profit from a year earlier, as a stronger ringgit impacted the translation of its global sales.

For the quarter ended Nov 30, 2025 (3QFY2026), its net profit fell to RM64.76 million from RM92.78 million — its weakest quarterly performance in three years since its 4QFY2024 delivered a net profit of RM55.17 million. Revenue dipped 4.69% to RM463.3 million rom RM486.09 million.

The decline was primarily driven by unfavourable currency translation as foreign currencies weakened against the ringgit, its bourse filing on Wednesday showed. Excluding the exchange rate effects, DXN noted that its revenue remained positive, with key markets like Peru, India, and Bolivia recording local currency growth between 4.8% and 39%.

Earnings per share stood at 1.3 sen per share in 3QFY2026, versus 1.87 sen in 3QFY2025.

The group declared a third interim dividend of 0.8 sen per share, down from one sen per share paid last year, to be paid on Feb 27.

For the nine months ended Nov 30, 2025 (9MFY2026), its net profit declined 14.48% to RM208.93 million from RM244.31 million in 9MFY2025, while revenue edged down 1.79% to RM1.42 billion from RM1.45 billion. Excluding foreign currency translation effects, the group’s revenue achieved a 14.5% growth, it noted.

DXN, which specialises in health and wellness consumer products, flagged geopolitical tensions, labour supply constraints and inflation as potential headwinds that could affect household spending, consumer sentiment and cost conditions across global supply chains.

To sustain growth, the group said it will strengthen its coffee supply chain with the development of coffee plantations in Brazil, Bolivia and Malaysia.

“At the midstream level, the development of new production factories are ongoing in Bolivia, Peru, Brazil and Malaysia, expanding production capacity and enabling the group to support a broader range of products as operations scale,” it added

The company also reported steady membership growth, particularly in Latin America, Europe and Africa. Previously listed on the Main Market in 2003, it was delisted in December 2011 after being privatised. It was relisted in May 2023.

DXN shares closed unchanged at 51 sen on Wednesday, valuing the group at RM2.54 billion. At current levels, the stock is trading at a price-earnings ratio of 7.9 times, according to AskEdge, roughly half its initial public offering valuation of 15.6 times.