YX Precious Metal Q2 PAT Surges 112% From Higher Gold Price

YX Precious Metals Bhd’s second quarter results for the financial year saw its PAT increase of 112.2% to RM2.8 million, as compared to Q2FYE2022’s RM1.3 million, on the back of a revenue of RM61.8 million. The gross profit margin improved from 6.9% a year ago to 8.5% in the quarter under review, as a result of higher average selling price and lower selling and distribution expenses incurred.

For the six-month period ended 30 June 2023, YXPM registered a PAT of RM5.5 million, which translated to a 25.5% growth, year on year. 1HFYE2023 revenue was RM124.4 million.

Commenting on the results, YXPM managing director Ng Sheau Chyn said, “The Group’s financial results reflected our commitment to continue delivering sustainable earnings and enhance our shareholders’ value. Against the backdrop of the challenging external environment, we will remain vigilant and take the necessary measures to face the uncertainties ahead. Nevertheless, we are very pleased with our strategy in place with the improvement in our profit margin for the second quarter. With the Group firmly setting on the right direction, we are actively putting our best efforts for our growth. We are cautiously optimistic that we will be able to achieve a satisfactory financial performance for the rest of the year

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