High feed cost a damper on Teo Seng

PETALING JAYA: Teo Seng Capital Bhd expects its financial performance to remain challenging for the rest of the financial year ending Dec 31, in view of the high feed cost and egg subsidy given by the government.

The poultry company’s net profit tumbled to RM516,000 in the third quarter ended Sept 30 against RM2.27mil posted a year prior. Earnings per share for the period stood at 0.18 sen from 0.77 sen last year.

Revenue, however, rose 15.2% to RM166.6mil from RM144.5mil posted a year ago.