{
  "id": 1932229,
  "title": "Tomei's Q2 net profit slips 10.2pct on higher costs",
  "url": "https://urgent.news/2026/08/19/tomeis-q2-net-profit-slips-10-2pct-on-higher-costs",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T11:59:04.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/08/1514698/tomeis-q2-net-profit-slips-102pct-higher-costs"
  },
  "original_language": "en",
  "account": "Tomei Consolidated Bhd, a Malaysian company, experienced a 10.2% decline in its net profit for the second quarter of 2026, reaching RM22.58 million compared to RM25.15 million in the same period last year. The decrease was attributed to higher operating expenses. However, the company's revenue grew by 9.5% to RM340.61 million, driven primarily by increased sales in its retail segment, which benefited from higher gold prices. The retail segment alone generated RM264.79 million, an 8% increase from RM245.47 million in the previous year's corresponding quarter. No dividends were declared for the quarter. Over the six months ending June 30, 2026, Tomei's net profit rose by 40.8% to RM74.64 million, up from RM52.98 million a year earlier. Revenue also increased by 37.1% to RM903.81 million, as higher gold selling prices continued to support top-line growth. Tomei's managing director, Datuk Ng Yih Pyng, stated that the company will continue to focus on expanding its retail presence, enhancing product offerings, and implementing prudent cost management. They will also monitor consumer spending sentiment amid a cautious macroeconomic environment. Gold prices have helped support revenue growth, although trading activity cooled in the second quarter following a strong start to the year. The company remains cautious about rising operating costs and their impact on margins.",
  "summary": "KUALA LUMPUR: Tomei Consolidated Bhd’s net profit fell 10.2 per cent to RM22.58 million in the second quarter ended June 30, 2026 from RM25.15 million a year earlier due to higher operating expenses.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}