Friday, September 30, 2011

Poh Kong 4Q net profit up 56.4% to RM 12.18m

KUALA LUMPUR: Poh Kong Bhd net profit for the fourth quarter ended July 31, 2011 rose 56.4% to RM12.18 million from RM7.79 million a year earlier, due mainly to higher sales registered, promotional activities and increase in gold price.

It said on Friday, Sept 30 that revenue for the quarter increased 38.82% to RM183.12 million from RM131.91 million in 2010 due to higher sales.

Earnings per share increased to 2.97 sen from 1.9 sen a year ago, while net assets per share was 84 sen.

For the financial year ended July 31, Poh Kong's net profit rose 28.28% to RM41.64 million from RM32.52 million, on the back of a 23.39% increase in revenue to RM692.5 million from RM561.24 million in 2010.

Reviewing its performance, the company said the increase in profit was attributable to Poh Kong's thirty-fifth anniversary promotional activities, increase in gold prices as well as higher sale from the existing store.

On its prospects, the company said it would build its market share by differentiating its product offerings to its targeted segments.

'Towards this purpose, the group is actively evaluating various initiatives and opportunities to attract new customers through the introduction of new product designs and enhanced customer service.

'The board of directors remains positive on the performance of the group for the financial year ending July 31, 2012,' it said.


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