Tomei records drop in 3Q net profit on lockdown woes

KUALA LUMPUR: Tomei Consolidated Bhd reported a sharp year-on-year (y-o-y) drop in net profit for the third quarter ended Sept 30, 2021, to RM1mil as compared to RM13.6mil in the previous corresponding quarter.

In a bourse filing, the jewellery merchant said it experienced a decline in revenue as the retail segment's contribution slumped 42% y-o-y due to the government's Covid-19 lockdown measures.