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Teo Seng Posts RM6.3M Profit from Poultry Farming

by 5m Editor
27 August 2013, at 8:00am

MALAYSIA - Teo Seng Capital Bhd posted a net profit of RM6.3mil for its second quarter on the back of a RM82.23mil revenue due to earnings from its poultry division.

The Star Online reports that earnings per share for the period were 3.19 sen and the group had also proposed a one sen dividend per share.

For its first half year, its net profit stood at RM10.8mil while revenue was at RM161.31mil.

In a filing to Bursa on Tuesday, Teo Seng said its poultry farming division posted a RM104.1mil revenue with a pretax profit of RM10.1mil due to the stable selling price of eggs coupled with lower feed price.

"The group recorded revenue of RM57.2mil, which was contributed from the animal health products and foreign subsidiary company for the current period. It recorded a pre-tax profit of RM3.4mil for the segment," it said.

The group said it is confident on its earnings for the remaining six months in view of stable selling price.