KUALA LUMPUR (May 26): Tomei Consolidated Bhd (KL:TOMEI) kicked off its new fiscal year with net profit surging 88% to a record high, driven by a rally in gold prices, robust festive demand and stronger sales volumes.
Net profit for the three months ended March 31, 2026 (1QFY2026) jumped to RM53.8 million from RM28.6 million in 1QFY2025, the jeweller said in a Bursa Malaysia filing on Tuesday.
Revenue surged 62% year-on-year to a record RM563.2 million from RM348 million.
The retail segment posted a 69% jump in revenue to RM483.7 million, supported by stronger consumer demand during the Chinese New Year and Hari Raya festive seasons, as well as higher gold prices. Profit before tax (PBT) for the segment jumped 95% to RM67.38 million.
The manufacturing and wholesale segment's revenue grew 29% to RM81.4 million, driven by higher gold prices and improved order flows. PBT jumped RM5 million to RM8.5 million.
Tomei declared a final single-tier dividend of two sen per share, approved at its just-concluded annual general meeting on Tuesday, to be paid on June 19.
In a statement, group managing director Datuk Ng Yih Pyng said the group remains cautious on its outlook despite the strong quarterly performance, due to an increasingly uncertain macroeconomic environment arising from the war in the Middle East, which could impact fuel and transportation costs and weigh on consumer sentiment.
Nevertheless, Ng said Tomei remains vigilant. “Our dual-segment business model and healthy balance sheet position us well to navigate near-term headwinds,” he said.
Shares of Tomei fell seven sen or 3.7% to RM1.84 at market close on Tuesday, giving the group a market capitalisation of RM255 million.