KUALA LUMPUR: Faced with a challenging retail environment, Tomei Consolidated Bhd
will be seeking to leverage the year-end holidays to improve sales.
"Barring any unforeseen circumstances, the board is cautiously optimistic that the group will be able to sustain its profitability for the financial year," it said in its filing with the stock exchange.
In the third quarter of 2023, Tomei posted a net profit of RM10.19mil, which was lower than RM14.32mil in the same quarter in 2022, representing an earnings per share of 7.35 sen compared to 10.33 sen previously.
The jeweller and gold retailer reported revenue of RM203.47mil in the current quarter as compared to RM217.4mil in the year-ago quarter.
By segment, it said its retail business posted a pre-tax profit of RM12.97mil, which was 16% lower than in the same 2022 quarter on the back of higher operating overheads and finance cost.
Its manufacturing and wholesale segment also reported a lower pre-tax profit of RM2.34mil compared to RM2.79mil on the back of weaker revenue due to lower customer demand.
Year-to-date, Tomei registered a net profit of RM39.07mil as compared to RM55.85mil in 9M22.
Revenue was down to RM664.59mil in the nine months period from RM749.46mil in the previous comparative period.
