Poh Kong Bhd achieved a pre-tax profit of RM36.778 million on the back of a turnover of RM406.457 million for January 31, 2022 from a pre-tax profit of RM14.599 million on the back of a turnover of RM231.387 million previously.
For the six-months January 31, 2022, it achieved a pre-tax profit of RM44.409 million on the back of a turnover of RM581.751 million from RM33.864 million on the back of a turnover of RM453.292 million previously.
The Group’s revenue for the current quarter under review was higher at RM406.457 million as compared to the revenue in the corresponding quarter last year of RM231.387 million, an increase of RM175.070 million. The increase in demand for gold jewellery and gold investment products amid the gradual reopening of the economy and market sentiment, aided by higher retail gold prices, resulted in a higher revenue during the quarter under review.
The Group’s profit before tax in the current quarter at RM36.778 million as compared to the profit before tax of RM14.599 million in the corresponding quarter last year showed an increase of RM22.179 million. The higher revenue and the overall uptrend in gold prices improved the operating profits in the current quarter under review.
It said that the re-opening of the economy will undoubtedly be reflected by a gradual recovery, with higher global growth and sustained policy support providing a further lift to the overall economy. The Group will continuously monitor the impact of the current uncertainties of our operations, uphold and honour our financial obligations and evaluate our performance on a continuous basis.
