Tomei’s Q1 profit nearly doubles on festive gold rush

KUALA LUMPUR: Gold jewellery manufacturer and retailer Tomei Consolidated Bhd posted a sharp rise in earnings for the first quarter (Q1) ended March 31, 2026 with an 87.8 per cent surge in net profit to RM53.8 million.

Its pre-tax profit nearly doubled to RM75.9 million from RM40.4 million a year earlier, driven by stronger festive demand, higher gold prices and improved sales volumes.

Tomei’s revenue surged 61.8 per cent year-on-year to RM563.2 million from RM348.0 million previously.

Earnings per share increased to 37.6 sen from 20.1 sen a year ago.

The company said its retail segment remained the key earnings contributor, recording revenue of RM483.7 million, up 68.7 per cent from the corresponding quarter last year.

This was supported by higher consumer spending during the Chinese New Year and Hari Raya festive periods, alongside elevated gold selling prices.

Tomei’s manufacturing and wholesale segment posted a 29.2 per cent increase in revenue to RM81.4 million, mainly driven by higher gold prices and improved order flows.

Group managing director Datuk Ng Yih Pyng said the company delivered a strong set of results despite growing macroeconomic uncertainties.

He said escalating geopolitical tensions in the Middle East and the blockage of the Strait of Hormuz had contributed to higher global crude oil prices, which could lead to increased fuel and transportation costs and potentially dampen consumer spending sentiment.

Ng added that the group’s dual-segment business model and healthy balance sheet would help it navigate near-term headwinds.

Separately, shareholders approved a final single-tier dividend of 2.0 sen per share for FY2025 at the company’s annual general meeting today.

The dividend will be paid on June 19.

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المصدر: New Straits Times