Teo Seng sees sustainable performance

KUALA LUMPUR: Teo Seng Capital Bhd is confident of delivering a sustainable financial result for the remaining quarter of 2023.

The egg producer posted a net profit of RM43.83mil in the third quarter ended Sept 30, 2023 (3Q23), which is an impressive leap above RM516,000 recorded in 3Q22.

The group reported revenue of RM200mil, up from RM166.58mil in 3Q22, as the poultry farming segment benefited from the higher average selling price and sales quantity of eggs.

Basic earnings per share rose to 14.94 sen in 3Q23 from 0.18 sen in 3Q22.