Poh Kong posts 2Q net profit of RM25.7mil

KUALA LUMPUR: Poh Kong Holdings Bhd will continuously monitor the impact of the current uncertainties of its operations and evaluate its performance on a continuous basis.

“Barring unforeseen circumstances, the board of directors is confident that the group has put in place adequate measures to meet the challenges ahead for the financial year ending Jlu 31, 2023 (FY23),” the jeweller said in a filing with Bursa Malaysia.

In the second quarter ended Jan 31, Poh Kong posted a net profit of RM25.7mil, or earnings per share of 6.26 sen compared with RM29.3mil, or 7.15 sen in the same quarter a year prior.

“The lower revenue and the fluctuation of gold prices inevitably affected the group’s operating profits during the quarter under review,” it said.

Revenue for the quarter was marginally lower at RM403.8mil against RM406.4mil last year, mainly due to a decrease in demand of gold investment products during the quarter under review.

In the first six months to Jan 31, Poh Kong posted a net profit of RM41.3mil, up 19% from RM34.8mil a year ago while revenue jumped 33.1% to RM774.2mil against RM581.7mil last year.

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Poh Kong , gold


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