The Straits Times / The Business Times News on Best World

Best World posts strong results

By Nande Khin - 21 February 2005
The Business Times

BEST World International on Saturday reported sterling maiden results for the full-year ended Dec 31, 2004. It said it will reward shareholders with a dividend payout as well as a bonus issue, subject to approval from the Singapore Exchange.

Net profit surged 68.9 per cent to reach $5 million on the back of a 81.5 per cent increase in revenue to $31 million. Earnings per share rose 50.1 per cent from 2.98 cents per share to 4.48 cents per share.

Best World, whose revenue comes mainly from the direct selling of nutritional supplements and skin-care products, was listed on Sesdaq in July last year.

The company said the revenue growth to $31 million was mainly due to growth of its direct selling business' member base from 23,000 in FY2003 to 45,000 in FY2004, which fuelled strong demand for the group's health and lifestyle products. The direct selling segment contributed 96.3 per cent and $29.9 million to Best World's revenue in percentile and absolute terms, respectively.

Group CEO Dora Hoan said Best World has taken on new initiatives by expanding its product range, increasing its membership base and growing new markets. 'All these efforts have reaped initial rewards and we believe the growth momentum will continue into FY2005.'

Going forward, she said Best World will continue to focus on its key competence in direct selling. The company will also launch marketing campaigns to increase the market awareness of the Best World brand. Best World intends to reward shareholders with a final dividend of 0.3 cents per share less tax. Its shares dropped 0.5 cents to close at 24 cents last Friday.