Thursday, November 17, 2011

Amway advances in early trade on firm 3Q earnings

KUALA LUMPUR (Nov 17): Amway (Malaysia) Holding Bhd shares advanced in early trade on Thursday, Nov 17 after its net profit rose 19.8% to RM25.77 million in the third quarter ended Sept 30, 2011 from RM21.51 million a year ago as it benefited from higher sales and improved gross margins due to the favourable foreign exchange impact.

At 9.10am, Amway rose 31 sen to RM9.35 with 12,900 shares traded.

Its revenue rose at a slower pace of 5.4% to RM211.52 million from RM191.50 million while earnings per share were 15.68 sen compared with 13.08 sen.

Amway declared a third interim single tier dividend of 9.0 sen net per share and special interim single tier dividend of 30.0 sen net per share for the financial year ending Dec 31, 2011.

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