QL Resources reports higher net profit in 2Q24

KUALA LUMPUR: QL Resources Bhd remains cautiously optimistic about its performance in the coming quarter, despite ongoing Middle East tensions, expected US trade protectionism under the incoming Trump administration, the US-China trade war, and a weak global economy.

The company is confident that the continued egg cost subsidy and ceiling price mechanism in Malaysia will support satisfactory business results.

In the second quarter ended Sept 30, QL Resources posted a 4.6% higher net profit of RM128.3mil, or earnings per share of 3.52 sen compared with RM122.6mil, or 3.36 sen in the year-ago quarter.

For the first half, its net profit rose 9.4% to RM235.7mil while revenue grew 6.2% to RM3.5bil.