Friday 29 Mar 2024
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KUALA LUMPUR (May 9): Teo Seng Capital Bhd announced today that net profit more than tripled to RM22.09 million in its first quarter ended March 31, 2019 (1QFY19), from RM6.61 million a year earlier, as poultry farming revenue rose primarily on stable selling prices of eggs and improved production efficiency.

Teo Seng said in its Bursa Malaysia filings today that group revenue rose to RM150.52 million, from RM115.08 million. 

"The increase of 35.1% in (poultry farming) revenue to RM135.8 million recorded in the current quarter was primarily contributed from continued stable selling price of eggs, coupled with the improved production efficiency. In line with improvement in revenue, poultry segment recorded an impressive profit before tax of RM28.7 million in the current quarter under review.

"In view of the current stable supply of eggs and feed cost, the directors are optimistic about the financial performance of the group for the remaining 9-month period ending 31 December 2019," Teo Seng said.

The group declared a dividend of three sen a share for 1QFY19.

Teo Seng said the dividend is payable on June 26 this year, while its ex date falls on June 17.

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