SINGAPORE - Shopper360's full-year net profit grew 8 per cent to RM5.56 million (S$1.9 million), or 4.86 sen per share, as the shopper marketing services company attributed a loss to minority interests versus a year-ago profit.
In a midday announcement on Monday (July 30), the board recommended a final cash dividend of 0.6 cent per share for the year ended May 31, 2018. The company's shares were not traded on Monday morning, but were bid at 16 cents and offered at 19 cents.
Revenue increased 7 per cent to RM142.35 million as existing customers requiring support for expanding their business scope and coverage led field force management sales to increase by 14.3 per cent. Sampling activities and events management revenue, however, fell 12.7 per cent due to a cautious economic outlook.
Profit from continuing operations fell 37 per cent to RM5.26 million. But a year ago, shopper360 attributed RM1.80 million of profit to non-controlling interests. In fiscal 2018, the company attributed a RM301,519 loss to minority interests, helping to turn net profit from a decline to a modest increase.
Looking ahead, shopper360 described optimism about the Malaysian economy, and said it would focus on acquiring new customers and expanding service offerings with existing ones. The company is also working to grow its new Myanmar operations, and will seek business opportunities via strategic partnerships and acquisitions in its current network and in new markets.