KUALA LUMPUR: Teo Seng Capital Bhd
announced a net profit of RM11.97mil for the third quarter ended Sept 30 (3Q15), or an 11% increase from RM10.76mil a year ago due to significantly lower tax expensse.
The poultry-based company said on Monday tax expense was at RM114,000 compared with RM6.59mil a year ago.
Teo Seng Capital said its revenue rose 7.1% to RM102.47mil from RM95.66mil a year ago.
However, pre-tax profit dropped to RM12.09mil for 3Q15, compared to RM17.39 million over the same period a year ago.
Teo Seng Capital said while it recorded higher revenue due to an increase in sales from its poultry farming operations, its pre-tax profit for the quarter declined due to the lower selling price of eggs.
It declared an interim single tier dividend of 12.5% for the full financial year ending Dec 31, 2015.
As at Sept 30, its net asset per share was 67 sen, compared to 79 sen a year ago.
In the nine months ended Sept 30, 2015, its earnings rose nearly 20% to RM36.73mil from RM30.64mil in the previous corresponding period. Its revenue increased by 12.2% to RM305.67mil from RM272.47mil.
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