Friday 29 Mar 2024
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KUALA LUMPUR (Nov 11): Higher selling prices and lower feed costs help to lift Teo Seng Capital Bhd’s earnings substantially.  

Teo Seng saw its net profit jumped 56% to RM10.76 million in the third quarter ended Sep 30, 2014 (3Q14), from RM6.89 million in the previous corresponding period.

The poultry farming company’searnings per share (EPS) swell to 5.38 sen during the quarter from 3.45 sen in 3Q13. Revenue grew 19% to RM95.66 million in the quarter under review, from RM80.29 million in 3Q13.

Teo Seng declared dividend per share of five sen following the stellar set of financial results, bringing the total dividend declared year-to-date to 10 sen.

The poultry farming division generated revenue of RM59.82 million and pre-tax profit to RM15.16 million.

Meanwhile, its investment and trading arm recorded higher revenue to RM35.84 million due to sales of animal health products and contribution from foreign subsidiary company during the quarter. It recorded a pre-tax profit of RM6.0 million for the segment.

For the cumulative nine month period ended Sept 30, Teo Seng’s net profit almost doubled from RM17.69 million seen at the same time last year to RM30.65 million. EPS reached 15.32 sen from 8.85 sen the same time last year.

The company’s revenue came in at RM272.48 million, 12.7% higher than the RM241.6 million registered in the previous corresponding nine-month period.

Teo Seng, which was features as Stocks with Momentum by TheEdge Research on Nov 4, has seen its share price more than trippled this year so far.

Year-to-date, the share price has rocketed nearly 286% and even reached a high of RM2.60 in March 2014. The stock closed at RM2.43 today, giving it a market capitalisation of RM488 million.

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