Amway Holdings Berhad (AMWAY Malaysia) has hit a new record-high revenue of RM1,514.8 million for the end of the financial year of 2022, displaying an increase of 1.9% achieved in the previous financial year, mainly driven by strong demand for health and wellness as well as personal care products.
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.
According to AMWAY Malaysia’s Managing Director, Michael Jonathan Duong, 2022 saw the company focus 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 FY2023, despite the mixed monetary forecast, the Group is cautiously optimistic to deliver moderate revenue growth and continued profitability by strengthening our existing framework, providing strong entrepreneurial income opportunities, and developing business acumen with our Amway Business Owners (ABOs) as part of the Group's sustainable goals. With over 450 consumer products, we aim to strengthen our stronghold in the health and wellness sector," he concluded.
In addition, AMWAY Malaysia continues to promote health and wellness solutions to help Malaysians address non-communicable diseases. In response to the government's request for private sector support, AMWAY Malaysia plans to encourage its ABOs, Amway Privileged Customers (APCs) and consumers to adopt a better health and wellness lifestyle.