Teo Seng Capital reports steady revenue in Q2

KUALA LUMPUR: Teo Seng Capital Bhd, one of the largest egg producers in the country, said improved egg prices helped the company achieve steady revenue in the second quarter ended June 30.

But higher feed cost and lower sales volume resulted in weaker earnings for the company.

Teo Seng Capital, in a statement today, said sales stood at RM120.8mil compared with RM121.2mil registered in the same quarter last year.

Net profit decreased to RM3.18mil compared with RM5.08mil previously.

"The weaken of ringgit caused an increase in feed cost and the decrease in sales quantity of eggs for Q2FY20 resulting from the previous impact on early depopulation of spent layer chicken in Q1FY20," it said.

"Looking forward, the Group will be more prudent to manage its financial resources, operational cost and capex requirements," the company said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Teo Seng Capital , egg


Did you find this article insightful?


Next In Business News

Biden to choose ex-Fed chair Yellen as first woman Treasury secretary
Malaysia Airlines offers subsidised tickets to boost domestic tourism
O&M business drives Serba Dinamik profits higher in Q3�
Top Glove confirms temporary stoppage of production plants in Klang due to Covid-19�
Soybeans touch 4-1/2 year high of $12 on supply concerns, high demand
Ringgit closes higher vs US$ at 4.0880
CPO futures close higher at RM3,518
Boustead Plantations stages turnaround in 3Q with RM17.9m net profit
US dollar falls to 2018 lows as vaccine optimism damps haven demand
HLT Global posts lower Q3 profit, as operating cost jumps�

Stories You'll Enjoy