Petaling Jaya, July 28, 2003 – Main Board-listed Amway (Malaysia) Holdings Berhad (Amway) has posted an unaudited profit before tax of RM21.1 million on the back of a RM120.3 million turnover for its third quarter results ended May 31, 2003.

Amway’s pre-tax profit increased by 25% from RM16.8 million compared to the same quarter last year, while turnover increased by 32% from RM91.5 million. Its third quarter results also performed better than the second quarter with a 27% increase in pre-tax profit and a 37% increase in turnover.

For the first nine months to May 31, 2003, Amway recorded a pre-tax profit of RM60.0 million with a turnover of RM318.7 million compared to a pre-tax profit of RM54.6 million and a turnover of RM281.7 million for the first nine months last year.

“Despite it being a difficult period, this has been Amway’s best quarter by way of turnover in our 27 years’ history. We attribute this resounding performance to the resilience and commitment of Amway distributors,” said Low Han Kee, Managing Director of Amway.

“Our strong financial performance was also powered by several factors. Of course, the perseverance of Amway distributors helped push sales to a record high. Secondly, Amway’s steady reputation as a provider of premium products and services has given the impetus for a growing demand of Amway products. Last but not least, favourable response from consumers to various product promotions also drove sales, especially the Water Treatment System trade-in programme,” added Low.

Amway also announced a third quarter interim of 7.5 sen per share less 28% income tax and a special dividend of 20 sen per share less 28% income tax.

Concluded Low: “The Government’s confidence in achieving a 4.5% GDP growth for this year may boost consumer sentiment and spending in the coming months which we hope will translate into better sales for Amway. Based on the current trend of distributor productivity and favourable economic indicators, Amway is optimistic of a reasonably good performance for the year.”

About Amway
Amway is one of the leading direct selling companies in Malaysia. The company, which began operations in 1976, offers a wide range of meaningfully differentiated quality products under its five core product lines namely Nutrition and Wellness (NUTRILITE vitamins and dietary supplements), Skin Care & Cosmetics (ARTISTRY skin care and cosmetic products), Personal Care (including oral care, toiletries and hair care products) Home Care (including laundry and car care products and household cleaners); and Home Tech (including water treatment system and cookware). In addition, the company’s PERSONAL SHOPPERS Catalogue offers locally-sourced and manufactured consumer products, from food and beverage to watches, garments, personal accessories and household appliances.