KUALA LUMPUR (Oct 9): Integrated poultry farmer Lay Hong Bhd saw its net profits for the second quarter ended Sept 30, 2014 (2QFY15) rise 592% to RM6.29 million or 12.64 sen a share, from RM909,000 in 2QFY14, due to higher eggs prices and quantities sold.

In a filing with the exchange today, Lay Hong reported a 14.24% increase in 2QFY15 revenue to RM166.84 million, from RM146.05 million a year ago, mainly due to better performance in the integrated livestock farming segment.

The group also attributed its revenue increase to better performance in its retail supermarket segment.

For the six months ended Sept 30, 2014 (1HFY15), Lay Hong recorded a 641% increase in net profits to RM7.85 million, as compared to RM1.06 million in 1HFY14, while revenue also rose 13.26% to RM323.01 million, from RM285.19 million in the same period a year ago.

The group did not declare any dividends for 2QFY15, after having set a dividend of 5 sen per share in the preceding quarter.

On future prospects, Lay Hong said it would perform satisfactorily in the remaining quarters, as chicken and egg prices have remained stable for the last six months, and raw material prices are also expected to remain stable due to adequate supply of corn and soybean, in accordance to various agri commodities reports.

Lay Hong, which has received a takeover offer by QL Resources Bhd at RM3.50 a share, closed down 1 sen or 0.28% today to RM3.50, giving it a market capitalisation of RM175.1 million.