The integrated gold jewellery manufacturer and retailer posted improved profit after tax and minority interest (PATAMI) for its first quarter ended 31 March 2022 (Q1FY2022).
Tomei registered an improved bottom line growth was achieved on the back of higher profit margins in line with the increase in gold price in Q1FYE2022, with PATAMI increased by 14.6% to RM15.8 million from RM13.8 million a year ago despite revenue moderating 4.1% to RM234.1 million from RM244.2 million previously.
“As the country begins transitioning towards the endemic phase, more restrictions and standard operating procedures on businesses have been lifted, taking us one step closer to normalcy. Since this transition, we noticed that more couples are planning their weddings. This will also be a growth driver for the Group moving forward,” Tomei group managing director Datuk Ng Yih Pyng said.
“The reopening of the country’s border would also be beneficial to the Group’s business prospects as the incoming tourists will contribute towards the recovery of the retail industry,” Datuk Ng added.
“Nevertheless, we are wary of the uncertainties amidst the unresolved Russia-Ukraine conflict and the prevailing inflationary pressures worldwide. We will continue to monitor the situations closely and will take the necessary measures to sustain our business operations.”
The shareholders approved the first and final dividend of 3.0 sen per share in respect to the financial year ended 31 December 2021, which will be paid on 9 June 2022 to shareholders on the register as at 25 May 2022, during the annual general meeting held today. This would amount to a total dividend payout of RM4.2 million.
