Gold jewellery manufacturer and retailer Tomei Consolidated Berhad’s (Tomei) earnings for the nine months ended 30 September 2023 (9MFYE2023) have far exceeded pre-pandemic full year earnings for FYE 2017, FYE2018 and FYE2019.
In a statement, the group said for 9MFYE2023, it posted a revenue of RM664.6 million, with net profit of RM41.3 million.
“The results fundamentally reflected the group’s strong performance which has more than normalised compared to pre-pandemic levels,” it said.
For its third quarter results for the financial year ending 31 December 2023 (Q3FYE2023), the group recorded a net profit of RM10.8 million respectively, on the back of a revenue of RM203.5 million.
Its managing director Datuk Ng Yih Pyng said the group preserves its approach to continue focusing on introducing new jewellery designs to the market, as well as expanding our retail outlet network to reach out to various target market of customers.
“Delivering profitability and enhancing our shareholders’ value remain as the group’s top priorities. In this regard, we are grateful that we are still able to maintain steady and better earnings, as compared to the pre-pandemic level, notwithstanding the current challenging retail environment.”
He added Tomei’s performance is a testament of our resilient and sustainable business strategies, and going forward, we are optimistic that we can continue to achieve positive earnings.
“I am looking forward to our full year results, of which I am confident will meet Tomei’s expectations,” he added.
As of 30 September 2023, Tomei has 57 stores across Malaysia.
