KUALA LUMPUR: YX Precious Metals Bhd
anticipates ongoing challenges from geopolitical risks, global gold price fluctuations, foreign exchange rates, and uncertain local jewelry demands affecting markets.
“The group remains vigilant and will take necessary measures to meet the challenges ahead. The group expects the financial performance for the financial year 2023 to be satisfactory,” YX said in a filing with Bursa Malaysia.
In the third quarter ended Sept 30, YX posted a net profit of RM1.9mil, or earnings per share of 0.50 sen against RM2.1mil, or 0.56 sen in the corresponding quarter last year.
Its revenue fell to RM53.6mil from RM68.1mil mainly due to lower sales volume of gold jewellery from both the wholesale and manufacturing segment as a result of lower demand from customers.
For the first nine months to Sept 30, it posted a net profit of RM7.4mil on revenue of RM178mil.
