The Malaysian Reserve

Poh Kong’s 4Q net profit jumps 400%

the Soaring Golden Horse,Swift Victory are the coin set, as a chinese saying goes "Money counted is money made" it is symbol of status and wealth shows at the Poh Kong 2014 Auspicious Jewellery Collection Prieview

By TMR / Pic By TMR

Poh Kong Holdings Bhd posted a 400% year-on-year (YoY) increase in net profit of RM14.3 million for the fourth quarter (4Q) ended July 31, on higher revenue.

The jewellery maker’s turnover rose 31.1% YoY to RM260 million driven by increasing demand for gold jewellery and gold investment products, higher retail gold prices and additional revenue contributed from new outlets in the quarter under review.

The company, in its exchange filing last Thursday, said it remains optimistic of maintaining its growth and leading position in Malaysia, despite more challenging and competitive conditions in the domestic jewellery market.

“Notwithstanding uncertainties in the global and regional economies, fundamentals in Malaysia remain resilient which have enabled corporate and industry players to meet their challenges and business performance.

The board of directors recommended a first and final single-tier dividend of one sen per share in respect of the financial year ended July 31, 2017, subjected to shareholders’ approval.