Poh Kong posts improved net profit of RM19mil in 1Q


KUALA LUMPUR: Poh Kong Holdings Bhd said it is confident it has put in place adequate measures to meet the challenges in the current financial year.

"The group will continuously monitor the impact of the current uncertainties on our operations, uphold and honour our financial obligations and evaluate our performance on a continuous basis," it said in a stock exchange filing.

In the first quarter ended Oct 31, 2023, the gold merchant said its net profit was RM19mil, up from RM15.67mil in the same quarter in 2022 as operating profits improved due to an overall uptrend in gold prices.

The company's basic earnings per share was 4.63 sen as compared to 3.82 sen.

Revenue was RM355.98mil, down from RM370.36mil a year earlier due to weak market sentiment and a decrease in demand for gold jewellery products during the quarter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Poh Kong , gold , jeweller

   

Next In Business News

Closing the gap in information delivery
Microlink wins RM84mil ministry job
Fast-lane initiative successfully speeds up foreign projects in Johor
Ekovest’s Lim weighs sale of toll-road assets
Mixed fortunes likely from Trump presidency
Mah Sing to buy land for RM113mil
T7 Global gets drilling jack-up rig
Pentamaster quarterly earnings at RM12mil
EcoWorld Malaysia to buy land for RM742mil
India’s markets immune to Trump’s victory

Others Also Read