PETALING JAYA, 28 February 2023 – Amway (Malaysia) Holdings Berhad (“AMWAY Malaysia”) posted a new record-high revenue of RM1,514.8 million for the financial year ended December 31, 2022 (FY2022), up 1.9% from RM1,485.9 million achieved in the previous financial year. The increase in revenue was mainly driven by strong demand for health and wellness as well as personal care products.
The Group’s profit before tax (PBT) recorded a stellar growth of 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.
AMWAY Malaysia’s 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.
“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 said.
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.
“With the government’s focus to address non-communicable diseases, we recognize that the private sector has an important role to play in helping the government address the national health crisis for the benefit of the rakyat. And as a leading health and wellness company, we will continue to provide solutions for healthier lifestyles through our Nutrilite™ health and wellness products and engage with the community. As such, we will be ramping up our efforts in promoting health and wellness solutions to help Malaysians deal with non-communicable diseases,” Duong said.
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