KUALA LUMPUR (Feb 20): Higher revenue and better efficiency have pushed Teo Seng Capital Bhd’s net profit to RM17.27 million or 5.76 sen a share for the fourth quarter ended Dec 31, 2018 (4QFY18), 19.33% higher than the RM14.47 million or 4.83 sen a share achieved last year.

The company is upbeat on its current year’s prospects. The poultry farming company said in view of the current stable supply of eggs and selling price, the board is optimistic about the forthcoming year’s financial performance.

Quarterly revenue grew 26.3% to RM147.22 million from RM116.55 million in 4QFY17 on higher sales from both its poultry farming business as well as its investment and trading business, according to a filing with Bursa Malaysia today.

The higher revenue in its poultry farming business is due to the continued stable selling price of eggs and higher sales quantities as well as the result of upgrading farm infrastructure and facilities for better production efficiency, as well as lower feed costs.

Meanwhile, its investment and trading business saw higher revenue on the back of increasing demand for animal health products.

The group declared a second interim single tier dividend of 2.5 sen per share in the financial year ended Dec 31, 2018 (FY18), payable on April 25.

For the full year of FY18, its net profit grew more than eight times to RM30.36 million or 10.13 sen a share from RM3.46 million or 1.15 sen per share a year ago, while revenue was up 16.02% to RM490.29 million versus RM422.59 million.

Shares of Teo Seng Capital closed two sen or 1.54% up at RM1.32, for a market capitalisation of RM395.64 million. Over the past 12 months, the counter has climbed 38% from its low of 95.4 sen.