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.

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