Best World net profit up 62% in Q2

Best World’s booth at a recent sales exhibition in Singapore.
Best World’s booth at a recent sales exhibition in Singapore.PHOTO: BEST WORLD INTERNATIONAL

SINGAPORE - Multi-level marketing firm Best World International has posted a net profit of $12 million in the second quarter, up 62.4 per cent from the same period a year ago, bolstered by strong performance in its largest and fastest growing market - China.

Revenue in the three months to June 30 climbed 7.2 per cent to $55.3 million. Second quarter earnings per share was 2.17 cents, up 61.9 per cent from 1.34 cents a year earlier.

The board has recommended an interim dividend of 1.5 cents per share, payable on Sept 22. This represents a payout of 38 per cent of the group's net profit in the first half.

Last year, a dividend of two cents per share was paid for the period ended June 30.

Also on Monday, Best World said that it has revised its dividend policy for the 2017 to 2019 periods. It intends to recommend and distribute annual dividends of not less than 40 per cent (previously 30 per cent) of net profit excluding one-off items.