QL Resources net profit jumps 30.6% to RM122.6mil in 2Q

KUALA LUMPUR: QL Resources Bhd is cautiously optimistic that the business will continue to perform well next quarter even though interest rates are high and the global economy is uncertain.

The group said the government's egg cost subsidy would help to offset the high farming expenses.

In the second quarter ended Sept 30, QL’s net profit jumped 30.6% to RM122.6mil compared with RM93.9mil achieved in the same quarter last year.

Revenue for the quarter rose 3.17% to RM1.7bil against RM1.64bil a year prior while earnings per share rose to 5.04 sen from 3.86 sen previously.

In the first six months to Sept 30, QL posted a higher net profit and revenue of RM215.4mil and RM3.3bil respectively.