The health supplements manufacturer and distributor’s revenue grew by 17.6% to RM423.98 million for the quarter from RM360.39 million previously.

This was primarily due to continuing sales growth of fortified food and beverages in Latin America and India, as well as the depreciation of the ringgit against certain foreign currencies, it said in a filing with Bursa Malaysia today.

On its prospects, DXN said the global economy would remain volatile due to the escalating Russian-Ukraine war, creating inflationary pressure and rising cost of living.

“Despite the adverse economic impacts and social headwinds, the group was able to achieve the growth rate of 17.6% in revenue while maintaining a relatively consistent profit before tax margin and profit after tax and minority interest margin at 29.3% and 18.3% respectively.

“Continued growth has been observed for our market in Peru, Mexico and India,” it noted.

Moving forward, the group will cautiously focus on its growth strategies to expand into existing and new markets, optimise the capacity utilisation of its production facilities and launch new products.

DXN’s board declared a first interim dividend of 0.8 sen per ordinary share, amounting to RM39.9 million, payable on Aug 30.

Return to Main Market

The company returned to Bursa Malaysia after a 12-year hiatus in May this year at an IPO price of 70 sen.

It was previously listed in 2003 but was delisted in 2011 following a takeover and privatisation by its founder Lim Siow Jin, who is currently its executive chairman.

DXN, which now operates in 48 countries, has plans to expand its operations in North America and Africa, where it will open another five facilities, over the next two years. Lim had said DXN would then go for the Chinese market in three to five years’ time.

DXN’s shares closed 1.5 sen or 2.1% higher at 74 sen today, giving it a market capitalisation of RM3.7 billion.