KUALA LUMPUR: DXN Holdings Bhd
registered a net profit of RM76.02 million in the second quarter ended Aug 31, 2023 (2Q), a marginal increase from RM75.79 million a year ago.
Revenue increased to RM458.31 million from RM396.21 million amid continuing sales growth in Latin America, India and the Middle East due to the return of members’ activities, positive market sentiment after the Covid-19 pandemic and an increase in product range.
"Despite the increase in revenue, DXN’s earnings before interest, taxes, depreciation and amortisation (EBITDA) margin was easier following higher sales growth of the food and beverage series, which commands a lower gross profit margin,” it said in a filing with Bursa Malaysia today.
Besides that, it said the company also incurred higher operating expenses, which were partially offset by lower transportation costs after the pandemic.
Moving forward, it said the company is optimistic to sustain the growth for the next quarter. - Bernama
