Tomei’s Q2 profit almost triples

PETALING JAYA: Tomei Consolidated Bhd’s net profit for the second quarter ended June 30, 2019 surged almost three times to RM1.12 million from RM394,000 a year ago, thanks to its retail and manufacturing and wholesale segments.

The group reported an increase of 4.6% in revenue to RM135.51 million from RM129.58 million previously.

For the six-month period, its net profit grew 37.66% to RM3.98 million from RM2.89 million in the same period a year, while revenue was down 0.2% to RM278.84 million versus RM279.53 million previously.

The group said will continue with its rationalisation strategy in improving its sales volume through the introduction of more new designs and at the same time taking step to contain its operating cost.

“Barring any unforeseen circumstances, the board of directors is of the view that the group will remain profitable for the year,“ Tomei said.