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Wednesday, January 11, 2012

Poh Kong sees another record revenue on high gold demand

Poh Kong Holdings Bhd, the country's largest jeweller by revenue and size, expects to deliver another record revenue in the current financial year, boosted by continued high demand for gold globally.

Head of corporate affairs, administration and human resource, Margaret Hon, expects the company to at least sustain a 23 per cent revenue growth rate in the current financial year.

"In fact, we are positive that we will record higher growth this year," she said after Poh Kong's annual general meeting here yesterday.

For its first quarter ended October 31 2011, the group posted a 62 per cent jump in net profit to RM17.7 million compared with RM10.9 million in the previous corresponding quarter, while revenue surged to RM230.6 million against RM169.5 million previously.

For the year ended July 31 2011, Poh Kong's net profit advanced 26.7 per cent to RM41.21 million from RM32.52 million a year ago, while revenue grew by 23.4 per cent to RM692.42 million from RM561.24 million previously.

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