KUALA LUMPUR (Aug 19): Tomei Consolidated Bhd's (KL:TOMEI) second-quarter net profit declined 10.2% to RM22.58 million from RM25.15 million a year earlier, dragged down by higher administrative, selling and distribution expenses.

Earnings per share decreased to 16.29 sen from 18.15 sen, according to the jeweller’s bourse filing on Wednesday.

Quarterly revenue grew 9.59% year-on-year to RM340.62 million from RM310.81 million amid higher selling prices for gold.

The retail segment saw a 45% decline in revenue to RM264.8 million, mainly due to lower sales volume as the previous period coincided with major festive seasons such as the Chinese New Year and Hari Raya. Profit before tax (PBT) for the segment dropped 62% to RM25.43 million.

The manufacturing and wholesale segment's revenue declined 6% to RM76.82 million, driven by higher gold prices and improved order flows. PBT dropped RM2.4 million to RM6.1million.

No dividend was declared for the quarter under review.

For the first six months of FY2026, Tomei's net profit climbed 40.9% to RM74.65 million from RM53.98 million in the same period last year. Earnings per share rose to 53.86 sen from 38.22 sen.

Revenue for the six-month period grew 37.19% year-on-year to RM903.81 million from RM658.82 million as higher gold selling prices continued to support topline growth, Tomei noted.

Group managing director Datuk Ng Yih Pyng said Tomei continues to focus on strengthening its retail presence, enhancing product offerings and exercising prudent cost management.

Shares of Tomei closed two sen or 1.1% lower at RM1.79 on Wednesday, giving the group a market capitalisation of RM248.1 million.