KUALA LUMPUR: Teo Seng Capital Bhd
remains optimistic about its financial performance for the remaining six months ending December 31, 2024, driven by improved productivity and stable feed costs.
In the second quarter ended June 30, Teo Seng’s net profit rose 4% to RM26.4mil, or earnings per share of 8.87 sen from RM25.4mil, or 8.65 sen posted in the same quarter last year.
Its revenue rose 4.1% to RM1849mil against RM177.7mil last year.
In line with the higher sales quantity of eggs, the group posted an improved revenue of RM321.4mil representing an increase of 3.3%. Coupled with higher productivity and cost-effectiveness, the pre-tax profit surged by 50.3% or RM21.3mil in the current reporting period.
Meanwhile, its investment and trading of poultry-related products segment registered growth of 7.0% in revenue from RM50.1mil in the previous corresponding period to RM53.6mil. The pre-tax profit increased by RM3.8mil, or 82.2%, in the current reporting period, driven by higher sales of animal health products.
For the first six months, Teo Seng posted a net profit of RM60.4mil, up 34% from RM45.1mil, while revenue expanded 3.8% to RM375mil against RM361.1mil last year.
Teo Seng has declared a second interim single-tier dividend of three sen per share amounting to approximately RM8.93mil in respect of the current financial period under review.
