Higher egg prices boon for Teo Seng


  • Corporate News
  • Thursday, 13 Aug 2020

“The weakenening of ringgit caused an increase in feed cost and the decrease in sales quantity of eggs in second quarter, ” the company said.

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 for the financial year ending Dec 31,2020.

But higher feed cost and lower sales volume had resulted in weaker earnings.

Teo Seng Capital, in a statement yesterday, 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 weakenening of ringgit caused an increase in feed cost and the decrease in sales quantity of eggs in second quarter, ” the company said.

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