Latest news with #PohKong
The Star
16 hours ago
- Business
- The Star
Poh Kong remains stable as gold demand holds firm
KUALA LUMPUR: Poh Kong Holdings Bhd expects gold demand to remain strong as global trade tensions and tariff-driven disruptions push investors toward safe-haven assets like gold. 'During tariff-induced economic disruptions, gold demand typically surge as investors seek protection against inflation and market volatility, and the metal's role as a safe-haven asset,' the jeweller said in a filing with Bursa Malaysia. Poh Kong noted that global trade tensions are significantly disrupting production and trade patterns. The group said it will continue to monitor the impact of these uncertainties on its operations, while upholding its financial obligations and evaluating performance on a continuous basis. 'Barring unforeseen circumstances, the board of directors is confident that the group has put in place adequate measures to meet the challenges ahead for financial year ending July 31, 2025,' Poh Kong said. In the third quarter ended April 30, Poh Kong posted a flat net profit of RM47.6mil, or earnings per share of 11.60 sen, bringing its nine-month profit to RM98.5mil, or 24.01 sen per share. Poh Kong said overall uptrend in gold prices had improved the operating profits in the current quarter under review. Revenue for the quarter rose 2.7% to RM533.9mil, lifting the nine-month revenue to RM1.32bil. The increase in revenue was mainly due to the surge in gold price during the quarter under review.
Malaysian Reserve
17 hours ago
- Business
- Malaysian Reserve
Poh Kong 3Q profit steady despite record revenue amid gold price surge
POH KONG Holdings Bhd posted a flat net profit of RM47.60 million for the third quarter ended April 30, 2025 (3Q25), compared to RM47.65 million a year earlier, even as revenue climbed to a record RM533.93 million on the back of higher gold prices. The jeweller attributed the flat earnings to a 34.5% rise in income tax expense to RM18.99 million and a 6.3% increase in operating costs to RM55.13 million during the quarter. Quarterly revenue grew 2.76% from RM519.61 million previously. For the nine-month period, net profit rose 3.8% to RM98.54 million, while revenue edged up 2% to RM1.32 billion. Looking ahead, Poh Kong said demand for gold remains resilient amid global trade tensions and inflationary pressure, with the board expressing confidence in its outlook for the financial year ending July 31, 2025. Shares of Poh Kong closed unchanged at RM1.07 today, valuing the group at RM439.1 million. — TMR
