Poh Kong net profit surges threefold in Q1

PETALING JAYA: Poh Kong Holding Bhd saw a more than threefold increase in net profit to RM5.36 million for the first quarter ended Oct 31, 2017 compared with the RM1.77 million recorded in the same quarter last year.
Revenue for the period rose 19.11% to RM220.93 million from RM185.47 million a year ago, driven by increased demand for gold jewellery and gold investment products, higher retail prices for gold and additional revenue contributed by new outlets.
Poh Kong said in a Bursa Malaysia filing that it is confident of its resilience to weather the challenges ahead for its current financial year ending July 31, 2018.
On Bursa Malaysia today, Poh Kong rose 1.67% to close at 61 sen on 63,800 shares traded.