KUALA LUMPUR: Poh Kong Holdings Bhd’s net profit jumped five-fold in the fourth-quarter ended July 31, 2017 to RM14.32 million from RM2.84 million a year ago.
Its revenue surged 31 per cent to RM259.98 million from RM198.35 million on higher demand for gold jewellery and gold investment products, retail gold prices and revenue contributed from new outlets.
For full-year, its net profit rose three-fold to RM29.57 million from RM11.01 million previously.
Group revenue increased 12.94 per cent to RM876.99 million from RM776.53 million last year.
Poh Kong said it is optimistic in 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,” it said.
The group said it is being cognisant of the current market situation continues to review, revise and consolidate its business strategies to meet these challenges.