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Best World Q4 profit up 231% at S$12.3m; proposes 2-for-1 share split
BEAUTY products direct seller Best World International announced a net profit of S$12.3 million for its fourth quarter ended Dec 31, 2016, up 231 per cent from S$3.7 million a year ago.
Revenues rose 51 per cent to S$61.8 million from S$40.9 million a year ago.
Growth came from the group's key Taiwan and China markets.
China, which makes up less than 30 per cent of revenue, is expected to be the group's fastest growing market for at least the next three to five years, Best World said.
This was because of a direct selling licence for operations in Hangzhou city, combined with its increasingly popular DR's Secret skincare range, it said.
Full-year net profit was up 242 per cent to S$34.6 million, while revenue almost doubled to S$200.8 million.
At end-2016, total membership net of attrition for the direct selling business was up 1.5 per cent to 435,765 members, from end-September 2016.
A final dividend of three Singapore cents a share was declared, up from 1.5 cents a year ago.
Best World also proposed to split every one existing share into two new shares to enhance liquidity and make each share appear more affordable to more investors.
The counter closed at S$1.93, up 2.5 cents or 1.3 per cent, before results were out.