Zhulian Corporation Berhad Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended May 31, 2016; Provides Earnings Guidance for the Year 2016
July 12, 2016
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Zhulian Corporation Berhad reported unaudited consolidated earnings results for the second quarter and six months ended May 31, 2016. For the quarter, the company's revenue was MYR 47,218,000 against MYR 55,269,000 a year ago. Results from operating activities was MYR 8,551,000 against MYR 10,120,000 a year ago. Profit before tax was MYR 11,158,000 against MYR 14,674,000 a year ago. Profit for the period was MYR 7,942,000 against MYR 11,103,000 a year ago. Profit attributable to owners of the company was MYR 7,942,000 against MYR 11,103,000 a year ago. Basic earnings per share were 1.73 sen against 2.41 sen a year ago.
For the six months, the company's revenue was MYR 95,382,000 against MYR 110,488,000 a year ago. Results from operating activities was MYR 13,425,000 against MYR 20,375,000 a year ago. Profit before tax was MYR 22,125,000 against MYR 31,897,000 a year ago. Profit for the period was MYR 15,019,000 against MYR 23,653,000 a year ago. Profit attributable to owners of the company was MYR 15,019,000 against MYR 23,653,000 a year ago. Basic earnings per share were 3.27 sen against 5.14 sen a year ago. Net cash from operating activities was MYR 34,605,000 against MYR 25,384,000 a year ago. Capital expenditure was MYR 2,341,000 against MYR 12,113,000 a year ago. The decrease in revenue was mainly due to drop in both local and Indonesia market demands. This was offset by the strengthening of US Dollars for export sales. The drop in profit before tax was also due to incur of separation employment benefit expenses of MYR 3.5 million during the year.
Barring unforeseen circumstances, the Board of Directors remains cautiously optimistic that the Group should be able to sustain its performance in 2016. The company also expect 2016 sales will be mainly driven by the export sales.
Zhulian Corporation Berhad is a Malaysia-based investment holding company. The Company is primarily engaged in the manufacturing and trading of an array of diversified products, and other supporting businesses with direct-selling business as its core business. The Company and its subsidiaries principally manufacture jewelry and consumer products, and thereafter, sells them through a direct marketing network. Its segments include Malaysia, Thailand, Myanmar, Cambodia, and Others. It has manufacturing facilities for instant beverage products, functional beverages, traditional herbal supplements, vitamins, home technology products, such as water purifiers and air purifiers, therapeutic bedding products and a series of home care products. Its functional beverages include collagen mix, fiber mix, antioxidant beverage, soya drink, and others. Its ZHULIAN fashion jewelry offers bracelets, necklaces, brooches, pendants, earrings, bangles, and rings, among others.
Zhulian Corporation Berhad Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended May 31, 2016; Provides Earnings Guidance for the Year 2016