Zhulian’s net profit jumps 62% in Q2

17 Jul 2019 / 20:56 H.

PETALING JAYA: Zhulian Corp Bhd’s net profit for the second quarter ended May 31, 2019 rose 61.79% to RM19.53 million from RM12.07 million a year ago due to higher sales with cost control and higher share of profit from an associate.

Revenue for the quarter rose 18.87% to RM52.32 million from RM44.02 million a year ago due to higher sales both locally and to Thailand.

For the six months ended May 31, 2019, net profit rose 43.78% to RM30.32 million from RM21.09 million a year ago while revenue rose 5.06% to RM91.78 million from RM87.35 million a year ago.

The group declared a second interim single tier dividend of 2 sen per share, totalling RM9.2 million in respect of financial year ending Nov 30, 2019, to be paid on Sept 11, 2019. The entitlement date has been set at Aug 16, 2019.

The group said its business is closely linked to the sentiments of general consumer market and the fluctuating currency, therefore any strengthening or weakening of the ringgit against US dollar will have an impact on its performance as all export revenues are transacted in US dollar.

As the regional economy is expected to be quite favourable this year, supported by strong consumption growth and a solid manufacturing sector, Zhulian will take advantage of the positive market sentiments to be more competitive in the MLM market both locally and abroad.

email blast