KUALA LUMPUR: YX Precious Metals Bhd expects business conditions to remain challenging due to geopolitical risks, gold price fluctuations, and market uncertainties.
“The group anticipates the business conditions would remain challenging, primarily influenced by geopolitical risks, the fluctuations of global gold prices, foreign exchange rate and local jewellery demands with such uncertainties continuing to affect the global and local markets,” YX said in the notes accompanying its financial results.
The gold jewellery wholesaler and manufacturer remains vigilant and will take necessary measures to meet the challenges ahead.
In the first quarter ended March 31, YX climbed to RM2.7mil, or earnings per share of 0.73 compared with RM2.65mil, or 0.71 sen in the same corresponding period last year.
Its revenue rose 9.6% to RM68.6mil versus RM62.6mil a year earlier. The increase was mainly due to higher gold jewellery selling prices from both wholesale and design and manufacture segments.