KUALA LUMPUR: Tomei Consolidated Bhd will continue to adopt a cautious and prudent approach in its operations with a view to sustain its profitability in the new financial year.
“Despite the external challenges and headwinds surrounding the global economy, we believe Malaysia’s economy will stay resilient with the positive growth data announced by the Statistic Department.
“Tomei will continue to adopt prudent measures to ensure that its financial position remains resilient despite the challenging market conditions and craft strategies to ensure long-term sustainability of its business,” group managing director Datuk Ng Yih Pyng said in a statement.
The integrated gold jewellery manufacturer and retailer more than doubled its net profit to RM65.9mil in the financial year ended Dec 31, 2022 (FY22) from RM32.7mil a year prior.
Tomei said the higher profit was mainly due to the increase in sales volume arising from higher customers demand and additional new outlets that was opened during the financial year under review.
For the period under review, its earnings per share came to 47.54 sen as compared with 23.65 sen in the comparative quarter.
Revenue in FY22 jumped 32.4% to RM974.3mil from RM736.1mil in FY21.
“We reached a new milestone with Tomei achieving RM974.3mil in revenue which is a record high in Tomei’s history. The strong financial performance proves the group’s strategy to be effective especially during the pandemic where we digitalise our services to remain in contact with our existing and new customers.
“Our good supply chain management has also enabled Tomei to be able to keep up with the pent-up demand especially during the reopening of the economy where the demands are mainly driven by backlog of weddings and festive seasons,” Ng said.