KUALA LUMPUR (Nov 13): Poultry farmer and egg producer Teo Seng Capital Bhd saw its net profit jump more than six times to RM7.02 million for the third quarter ended Sept 30, 2018 (3QFY18), from RM1.13 million a year ago, on improved selling price of eggs and higher sales quantities coupled with lower feed cost.

Earnings per share for 3QFY18 rose to 2.34 sen compared with 0.38 sen for 3QFY17.

Quarterly revenue also grew 14.6% to RM125.26 million from RM109.29 million a year ago.

The strong quarterly results helped the group turned a net profit of RM13.1 million in the cumulative nine-month period (9MFY18), versus a net loss of RM11.01 million in 9MFY17, while revenue grew 12.1% to RM343.06 million from RM306.04 million a year ago.

In view of the current stable selling price, Teo Seng expects its financial performance for the remaining three-month period to be satisfactory.

At 2.30pm, Teo Seng shares were up 4 sen or 5.2% at 81 sen, with 52,400 shares traded, giving it a market capitalisation of RM239.78 million.