Tomei’s Q1 PAT Surges 71% To RM21.7 Million As Retail Segment Shines

Tomei Consolidated Berhad announced its first quarter results for the year reporting a revenue increase of 35.8%, reaching RM322.8 million compared to RM237.7 million in the same period the preceding year. This growth it said was primarily driven by a robust performance in the retail segment, which surged by 43.7% to RM268.2 million, while the manufacturing and wholesale segment improved by 6.9% to RM54.5 million. The Group’s profit before tax and profit after tax, in turn, surged by 77.0% and 71.8% respectively to RM29.4 million and RM21.7 million.

Tomei managing director Datuk Ng Yih Pyng commented, “The retail segment was the main driver of the Group, having contributed 83.1% of the revenue. The overall profitability was also supported by greater demand for gold as more people are investing in gold as a hedge against inflation.”

He further added, “Our performance underscores the Group’s strong market position and effective growth strategies in place to deliver value to both our customers and stakeholders. We will continue to look out for space opportunities to increase our retail footprint, in addition to innovate our products to meet the demands of our customers.”

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