KUALA LUMPUR (Nov 14): Lay Hong Bhd's second quarter net profit jumped more than three times to RM12.17 million from RM3.54 million a year earlier on higher revenue from its livestock division.

Revenue for the quarter ended Sept 30, 2017 rose 20% to RM204.56 million from RM170.98 million, with the integrated livestock farming segment registering higher revenue of RM171.3 million on higher quantity and higher priced eggs and frozen products.

Quarterly earnings per share increased to 2 sen from 0.58 sen previously, the group said in a filing to Bursa Malaysia.

Cumulative six-month net profit increased fourfold to RM16.59 million from RM3.96 million in the previous year. First half revenue rose 18% to RM387.59 million from RM329.93 million in the previous April-September period.

Cumulative half-year earnings per share increased to 2.73 sen from 0.66 sen previously.

The group said the entry of NH Foods Ltd as a substantial shareholder marks an important step forward for the group's chicken product manufacturing business.

Plans for an expansion to increase production capacity are on track, it added. Its current egg production rate stands at 2.3 million eggs per day to date and the group expects to grow this target. It also aims to increase its boiler capacity to cater to new requirements in food processing.

As part of this expansion, a piece of industrial land in Selangor Halal Hub, Pulau Indah, has been identified to set up a plant.

"Works to acquire and build the said factory is progressing in a timely manner in accordance to our planned timeline," it said.

Lay Hong's share price closed unchanged today at 99.5 sen, giving a market capitalisation of RM605.71 million.