PETALING JAYA: Teo Seng Capital Bhd’s net profit for the fourth quarter rose 19.3% to RM17.27mil on the back of the company’s stronger performance in both its business segments.The group also saw its total revenue jump 26.3% for the three-month period ending Dec 31 2018, from a 27% increase in poultry farming and a 24% rise in investment and trading.In its filing with Bursa Malaysia, Teo Seng Capital reported that revenue increased by RM22mil or 17.5% quarter-on-quarter (q-o-q), mainly due to the stable selling price of eggs and higher sales quantity.“In view of the higher revenue and better efficiency, the group recorded a pre-tax profit of RM24.8mil, representing an increase of 187.7%,” it said.

Its profit before tax of RM41.24mil represented a 909.4% increase year-on-year (y-o-y), on the back of a 16% increase in revenue to RM490.29mil.The poultry farming segment increased 15% to RM56mil mainly due to the continued stable selling price of eggs and higher sales quantities, resulting from its upgrading of farm infrastructure and facilities to bring better production efficiency.“Coupled with the lower feed cost, it has contributed the higher pre-tax profit of RM31.4mil for the financial year under review,” it said in its filing.The company added that the increasing demand of animal health products contributed to the 23% increase in revenue and 38% in profit before tax for the investment and trading segment.

Read more at https://www.thestar.com.my/business/business-news/2019/02/21/teo-seng-records-stronger-performance-in-q4/#yIA20OR0fwAfoy7j.99