Poultry companies such as Huat Lai benefit from weaker ringgit when they export their eggs to Singapore.
KUALA LUMPUR: LTKM Bhd
suffered a loss of RM1.06mil in its first quarter ended June 30, 2017, as compared to a net profit of RM3.07mil in the previous corresponding quarter.
Revenue for the quarter was lower by about 6.7% to RM39.81mil from RM42.68mil a year ago. The company posted a loss per share of 0.81 sen.
The lower revenue and net loss was attributed to higher cost of sales of RM36.76mil, which was about 10% higher year-on year, as well as a drop in egg prices.
Moving forward, the company "views the next period to be challenging due to low egg prices whilst cost of major raw material may continue to be volatile due to the US dollar exchange rate".
LTKM's share price closed 9 sen or 5.7% lower at RM1.49, with 1,800 shares done.
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