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Thursday, 19 January 2017

Poh Kong targeting better results , expects faster revenue growth for this financial year宝光销售料平稳.推创新产品攫年轻市场

Poh Kong targeting better results , expects faster revenue growth for this financial year

Jewellery maker Poh Kong Holdings Bhd is targeting faster revenue growth this year on stronger demand for gold bullion.

Poh Kong Holdings Bhd expects a better performance in the financial year ending July 31, 2017 (FY17) on the back of an increase in profit for the first quarter ended Oct 31, 2016 (Q1 FY17)

The company is also seeing brisk sales online.

It recorded a higher pre-tax profit of RM2.43mil in the first quarter compared to RM487,000, while revenue was at RM185.47mil compared to RM172.3mil previously.

“We are anticipating a higher growth in revenue for financial year 2017 (FY17) based on our extrapolation of Poh Kong’s sales which grew by 7.6% to RM185mil in the first quarter of financial year 2017 (Q1’17),” said its corporate affairs, administration and human resources head Margaret Hon, after the company’s annual general meeting.


Executive director Ermin Siow Der Ming said the jewellery retail chain would continue to look for opportunities to expand further and grow market share, despite challenges faced by the industry.

Margaret said that several financial measures have been undertaken to streamline Poh Kong’s business operations such as by consolidating non-performing stores and establishing more outlets in high growth potential areas.

“Among the initiatives are cost-control, product innovation, promotion of our online business and store expansion.

“We plan to open three to five stores with an estimated total capital expenditure, including inventories of between RM3mil and RM5mil for each store this year,” Siow told reporters after the group’s AGM in Kuala Lumpur .

Siow said Poh Kong would open two new stores in Johor, namely at Aeon Kempas and Paradigm Mall, adding the company had targeted a minimum 100 stores by year-end from 97 currently.

This year, Poh Kong is planning to open up to a total of five jewellery stores, in addition to its existing 102 outlets nationwide under various brands.

Meanwhile, marketing manager Elizabeth Choon said the company would consistently showcase products suitable for the current economic situation, to boost sales.

The company is also seeking to increase its online sales due to increasing popularity from customers. Currently, jewelleries from Poh Kong can be bought online through websites such as Lazada and 11Street and wedding.com..

“We will also be expanding to more online channels in this regard,” Elizabeth  said.

“Online sales for Poh Kong have been picking up. However, it could not be compared to outlet sales as the contribution is still small,” said Poh Kong marketing manager Elizabeth Choon.

At the AGM held on Monday, Poh Kong announced sales revenue of RM776.53mil for the financial year ended July 31, 2016 (FY16), lower when compared to the RM805.71mil recorded previously.

Based on calculations by analysts, Poh Kong controlled a market share of approximately 16-20%, in the domestic jewellery market estimated to be worth RM5bil.

The group registered a lower pre-tax profit of RM17.48mil in the financial year under review from the RM8.65mil recorded in FY15.

Poh Kong posted a net profit of RM11mil in FY16 which ended July 31, albeit being 24% lower than FY15 net profit of RM14.5mil. As for Q1’17, its net profit rose by more than five-fold to RM1.8mil, compared to RM336,000 in the corresponding preceding period. The weakening ringgit, which has resulted in retail gold prices in Malaysia being relatively higher in contrast to international prices, appeared to be beneficial for the jeweller as more customers were purchasing gold for investment, to hedge the risk of ringgit depreciation.

The group said the decrease was mainly due to the decline in consumer demand for jewellery and gold related investment products.

To note, about 15% of Poh Kong’s revenue were contributed by bullion sales for investment purposes.


As at FY16, the group’s net assets stood at RM466.01mil, higher than the RM459.1mil registered in FY15. 






宝光销售料平稳.推创新产品攫年轻市场



尽管消费情绪疲弱及马币弱化,但宝光控股(POHKONG,5080,主板消费品组)仍预期2017年黄金与珠宝需求可保持平稳。

该公司主席拿督钟义翔在股东大会后表示,在佳节期间,珠宝与黄金的仍取得高销售,这显示有关需求仍平稳。

钟义翔说,公司预期15%的营业额将来自黄金投资者的贡献,如金条与金片。
“马币弱化,对公司有利,因许多人购买黄金,以达到护盘的作用。”
此外,钟义翔说,公司计划推介更多创新的产品,以便攫取年轻的市场。

“有关产品的售价将为3000令吉或以下。”

钟义翔亦不讳言表示,2017年相当挑战,因生活费走高,以致人们可消费的钱减少了。此外,公司亦在分店方面做出成本控制。

网络销售畅旺 今年业绩增长快速

基于金条强劲需求,宝光控股(POHKONG,5080,主板消费产品股)预计,今年营业额会快速增长,也放眼网络销售畅旺。

宝光控股企业事物、行政及人事部主管韩慧珊说:“根据我们的推算,公司2017财年首季的销售增长7.6%,达1亿8500万令吉,全财年营业额,会有更高增长率。

韩慧珊昨日在股东大会后,向媒体发表谈话。

关闭表现欠缺分店

她说,宝光控股采用数个财政措施,提高公司的业务营运,包括整合表现不佳的分店,及在增长潜力高的地区设立更多分行。
“目前,公司共有97家分店,期望在2017财政年,可达到100家分店。公司打算关闭一些表现欠缺的分店。不过,部份地区仍有需求仍有成长的空间,如柔佛。”

宝光控股全国现有102间不同品牌的分店,今年计划增设高达5家分店。
钟义翔补充,公司有意在现财政年开设3至5家分店,其中2家将落在柔佛新山。

该公司也希望网络销售会增加;目前,客户可通过Lazada及11 streetwedding.com的网站购买宝光的珠宝首饰。
目前,该公司最好的分店表现为柔佛地不老永旺商场及武吉英达永旺商场。

宝光控股营销经理钟依伶说:“我们的网络销售开始好转。不过,网络销售目前尚未能与店铺销售相比,因前者的贡献仍很少。”

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