Amway sees better 3Q profitability

PETALING JAYA: Amway (M) Holdings Bhd’s net profit more than doubled to Rm18.75mil for the third quarter ended Sept 30 despite revenue dipping by 3.16% year-on-year (y-o-y) to Rm371.39mil.

In a filing with Bursa Malaysia yesterday, Amway stated the improved profitability was due to overwhelming demand towards Atmosphere Mini which was newly launched in July 2021.

Amway declared a third single-tier interim dividend of five sen per share, bringing the dividend declared for financial year 2022, as of now, to 15 sen per share.

For the nine months ended Sept 30, 2022, the group’s revenue grew 2.2% y-o-y to Rm1.12bil while net profit rose 50% y-o-y to Rm53.9mil fuelled by sales growth.