Thursday, November 24, 2011

Esthetics in the black in 2Q, sees moderate growth

KUALA LUMPUR (Nov 24):'' ESTHETICS INTERNATIONAL GROUP [] Bhd returned to the black in the second quarter ended Sept 30 with earnings of RM1.26 million compared with net losses of RM17.94 million a year ago and expected to see moderate growth in 2012.

The wellness and beauty-based company'' said on Thursday that revenue fell 17.1% to RM32.18 million from RM38.84 million while earnings per share were 0.95 sen compared with loss per share of 13.6 sen.

In the first half, it managed to narrow the losses to RM1.55 million from RM21.11 million in the previous corresponding period while revenue showed a decline of 17.8% to RM64.64 million from RM78.72 million.

'The reduction is mainly due to the discontinuation of certain third party brands which was implemented in the second quarter of last financial year; however the group recovered to a profit before tax position of RM400,000 from RM21.2 million loss before tax for the preceding year corresponding period,' it said.

Esthetics pointed out that revenue from the regional and export businesses for the current period under review was 44% (2010: 46%).

On the outlook, it said the wellness and beauty industry was expected to continue to experience moderate growth in year 2012 while remaining competitive.


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