Poh Kong’s profit shot through the roof

Koon Yew Yin 16 June 2021

I just read RHB’s daily report for Poh Kong. 

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Poh Kong Holdings Bhd* swung back to the black in its third quarter ended April 30, 2021 with a net profit of RM24.02 million, compared with a net loss of RM2.31 million a year earlier, due to higher revenue and cost control initiatives. The jeweller said revenue more than doubled to RM364.19 million, from RM112.46 million, thanks to higher demand for gold investment products, such as gold bars, wafers and gold jewellery items. Cumulative net profit for the first nine months of FY21 shot up to RM50.02 million, from RM16.42 million in the corresponding period of FY20. Cumulative revenue was 43.54% higher at RM817.49 million, from RM569.51 million. 

Poh Kong’s EPS for the latest quarter ending April was 5.85 sen and its EPS for its previous quarter was 2.77 sen, an increase of 211 %. 

Tomei’s profit should also report increased profit like Poh Kong. 

Based of Poh Kong’s fantastic profit increase, Tomei should also report increased profit for its next quarter ending June 2021. Its EPS for its latest quarter ending March 2021 was 9.93 sen and 8.47 EPS for its previous quarter.    

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