..::AiN d'HeArTy::..


Friday, January 29, 2010

DXN 3Q net profit jumps 94.8 percent

KUALA LUMPUR: DXN HOLDINGS BHD [] posted a 94.8% jump in net profit to RM9.06 million for its third quarter ended Nov 30, 2009 (3QFY10) from the same period a year earlier, despite its top line revenue falling 11.91% to RM62.34 million.

The company attributed the improvement mainly to a higher profit margin from its multilevel marketing segment as a result of improvements in cost management and price revision for certain countries. DXN said overall, pre-tax profit margin during the quarter was 19.4% as compared to the corresponding quarter in 2008 where margins were 5.8%.

Earnings per share (EPS) for the quarter was higher at 3.97 sen compared with two sen in the same quarter previously. DXN declared a dividend of one sen for the quarter under review.

For the nine months to Nov 30, 2009, net profit surged 55.65% to RM23.29 million from RM14.96 million in the same period a year earlier, while revenue shrank 7.44% to RM199.8 million from RM215.9 million previously.

Its nine-month EPS stood at 10.11 sen versus 6.43 sen with a 2.75 sen dividend.

Looking ahead, the company said: "The group will remain focused on its existing core business activities and targeting more on overseas markets to enhance group performance. Barring any unforeseen circumstances, the directors remain optimistic for the group performance for the financial year ending Feb 28, 2010."

DXN is involved in multilevel marketing, property development and investment holding. Its multilevel marketing business contributes the overwhelming majority of about 80% revenue for the nine months ended Nov 30, 2009.

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