Amway (Malaysia) Holdings Berhad posted a new record-high revenue of RM1.51 billion for the financial year ended December 31, 2022 (FY2022), up 1.9% from RM1.48 billion achieved in the previous financial year. The increase in revenue it said was mainly driven by strong demand for health and wellness as well as personal care products.
The Group’s profit before tax rose 107.3% to RM103.1 million compared to RM49.7 million in FY2021. The year’s PBT was primarily driven by price adjustments and normalized sales incentives for Amway Business Owners (ABOs). During the pandemic years of 2020 and 2021, ABOs incentives increased significantly due to hyper sales growth. However, with sales growth returning to moderate levels in the last year, investment in these incentive expenditures have normalized.
Managing Director, Mr Michael Jonathan Duong said, “In 2022, we focused on supporting our entrepreneurs and helping them strengthen their businesses. In doing so, we ensured that the business is based on sound, healthy frameworks capable of generating sustainable long-term returns. Stemming from that, we were able to achieve positive results for 2022.”
The Group paid three single-tier interim dividends of 5.0 sen net per share amounting to RM24.7 million. In addition,
the Group has declared a fourth single-tier interim dividend of 5.0 sen net per share and a special single-tier interim
dividend of 18 sen net per share amounting to RM37.8 million on 27 February 2023. For FY2022, the Group made a total dividend payout of 38 sen net per share amounting to RM62.5 million – higher than the total payout of 24.0 sen net per share amounting to RM39.5 million paid in FY2021.
