Tomei's Q3 Net Profit Dips 30% From Loss In Gold Hedging

Business Today · Nov 21, 2024 08:26

Tomei Consolidated Berhad announced its financial results for the third quarter and nine-month period ended 30 September 2024 ("9MFY2024").

For 9MFY2024, the revenue surged by 21.2% to RM805.3 million, from RM664.6 million in the corresponding period last year. The jeweller said this was contributed by a 22.5% rise in the retail segment's revenue to RM661.0 million. The Group recorded a profit before tax of RM65.2 million and a profit after tax of RM49.5 million, which increased by 17.7% and 19.9% respectively, supported by higher sales volume and higher gold jewellery selling price.

For Q3FY2024, Tomei reported a 5.9% year on year increase in revenue to RM215.6 million, primarily driven by the retail segment, which saw a 7.0% rise in revenue to RM168.7 million. PBT and PAT were RM7.2 million and RM7 million respectively, impacted by gold hedging loss and a one-off expense of RM1.1 million related to the listing transfer of its subsidiary, YX Precious Metals Bhd to the Main Market.

The Group has announced a first interim single-tier dividend of 1.5 sen per ordinary share, amounting to RM2.1 million for the financial year ending 31 December 2024, to be paid on 23 December 2024.

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Tomei's Q3 Net Profit Dips 30% From Loss In Gold Hedging

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