SINGAPORE (Nov 4): Direct-selling company Best World reported 3Q earnings more than doubled to $8.9 million from a year ago from higher sales from direct selling.

Revenue nearly doubled to $52.2 million from a year ago as revenue from its direct selling segment grew 54.2% growth to $32.4 million and revenue from its export segment more than quadrupled to $18.6 million.

However, gross profit margin in 3Q declined to 71.6% from 77.1% due to a higher proportion of revenue generated from the export segment, driving distribution costs down despite increasing revenue.

Best World is cautiously optimistic of its performance for 4Q16 with the sustained growth from key markets in Taiwan and China.

The nine service centres in Hangzhou city has undergone the verification process and Best World does not expect further capex to have a material impact on the group.

Shares of Best World closed 1 cent higher at $1.50.