KUALA LUMPUR (Feb 12): Higher retail sales helped Tomei Consolidated Bhd deliver a net profit of RM4.4 million for the fourth quarter ended Dec 31, 2017 (4QFY17), up 18 folds from RM226,000 a year ago.

Earnings per share rose to 3.18 sen, from 0.16 sen in 4QFY16.

Revenue rose 17.46% to RM150.11 million, from RM127.8 million previously “mainly due to year-end festivities”, said Tomei in a filing with Bursa Malaysia.

The bulk of the revenue — RM114.1 million — came from the retail segment, which increased 19% year-on-year. Meanwhile, the manufacturing and wholesales (M&W) segment saw revenue rising 24.98% to RM36.01 million from RM28.81 million, resulting in lower pre-tax losses of RM1 million from RM1.21 million.

For FY17 as a whole, Tomei  said its net profit rose to RM16.2 million from RM4.69 million in FY16, largely attributed to higher revenue. Full-year revenue rose 36% to RM617.02 million from RM472.21 million due mainly to increase in demand, said Tomei.

The jewellery maker has recommended a one sen dividend per share. It paid none for FY16.

Calling FY17 a “very challenging year” for the retail industry, Tomei said its ability to generate better financial performance was a result of its continued efforts to reach its customers with more product offerings.

“For the financial year, the retail segment reported a 27% increase in revenue to RM450.34 million compared with last year,” it added.

Similarly, revenue contribution from the M&W segment also increased 43% year-on-year to RM166.68 million, said Tomei, but inventory write-down dragged its pre-tax profit lower on-year.

Shares of Tomei closed 2.5 sen or 3.85% higher at 67.5 sen today, giving it a market capitalisation of RM93.56 million.