Wednesday, March 23, 2011

Hai-O Q3 pre-tax profit shrinks to RM9m

Hai-O Enterprise Bhd's pre-tax profit for the third quarter ended Jan 31, 2011 declined to RM9 million from RM25.2 million in the same quarter last year.

Revenue fell to RM57.6 million from RM131.3 million previously.

In a filing to Bursa Malaysia, Hai-O said the drop in revenue and pre-tax profit was mainly due to lower contributions by its principal subsidiary, the multi-level marketing division. -- Bernama 23 March 2011

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