Jewelry maker, Poh Kong saw its revenue for the current quarter coming in higher at RM370.363 million as compared to the
revenue in the corresponding quarter last year of RM175.294 million, with an increase of RM195.069 million. However, against the preceding quarter of Q4FY2022, the revenue slips 11%
The higher difference was due to the low base which was affected by a nationwide lockdown effective from 1 June 2021. Poh Kong said it leveraged on the rising demand for gold jewellery and gold investment products which came with the rebound of the economy, resulting in a higher revenue during the quarter under review
Profit before tax in the current quarter at RM20.061 million as compared to the profit before tax of RM7.631 million in the corresponding quarter last year showed an increase of RM12.43 million. The higher revenue improved the operating profits in the current quarter under review
The decrease in profit was due mainly to the lower revenue in the current quarter under review as compared with the
preceding quarter.
The group expects the Malaysian economy to further expand in the current year, driven mainly by a strong rebound in
consumption. To sustain recovery, the government is attempting to address the economic impacts by gradually rebuilding fiscal buffers through increased revenue collection and greater spending efficiency.
Revenue was largely derived from the retail segment.
Barring unforeseen circumstances, the board of directors is confident that the group has put in place adequate
measures to meet the challenges ahead for financial year ending 31 July 2023.
