21 September 2018
Early Equity PLC
(“Early Equity” or “the Company”)
Yicom Global Sdn. Bhd.
Early Equity Plc (NEX: EEQP), a proactive investment company focused on early-staged companies which generate recurring income streams, is pleased to announce that Yicom Global Sdn. Bhd. (“Yicom”), of which the Company has a 47% stake has released its audited accounts for period ending 31 January 2018.
Yicom is the sole importer and patent holder of a series of healthcare products from various countries and in particular China. Yicom has a Sole Distributorship Agreement with Early Infinity Holdings Sdn. Bhd. a direct sales company holding licences to operate a multi-level marketing business in Malaysia.
The highlights of the results are as follows:
31 January 2018 31 January 2017 Increase
Turnover RM 19,070,800 (£3,473,734) RM 3,749,407 (£682,952) + 508.6%
Net Profit RM 4,798,384 (£874,022) RM 904,645 (£164,780) + 530.4%
Balance Sheet RM 5,933,008 (£1,080,694) RM 1,974,891 (£359,725) + 300.4%
The Directors of Yicom have declared that RM378,000 of the profits are to be distributed to the shareholders as a dividend Early Equity receives the following dividend:
Dividend RM 177,660 (£32,361) RM 136,619 (£24,885) + 30.0% *
* The directors of Yicom retained a higher percentage of the profit on this year’s accounts to facilitate the purchase of a new headquarter building and reinvestment into the business.
Exchange rate is based on RM 5.49 : £1.
Early Equity Chief Executive Edwin Chua Siew Lian said “We are delighted to report the remarkable achievement of Yicom posting a major increase in its turnover and profit for the year, enabling it to pay a dividend again this year. Yicom has paid dividends since it began trading in February 2015. We are continuing our work with Yicom to develop its sales and product range.“
The directors of Early Equity Plc accept responsibility for this announcement.
For further information please contact:
Tel: +44 7830 182501
NEX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott –Corporate Finance
James Dewhurst – Institutional Sales
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street, London EC4N 4SA