Teo Seng's Q1 net profit jumps 70.3%

by **Cals** Tue 19 May 2015, 00:11

Teo Seng's Q1 net profit jumps 70.3%

KUALA LUMPUR (May 18): Teo Seng Capital Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) reported a 70.3% increase in net profit for its first quarter ended March 31, 2015 (1QFY15) to RM17.49 million or 6.53 sen per share, from a net profit of RM10.27 million or 5.14 sen per share in 1QFY14, due to higher selling price of eggs, coupled with higher production quantity, albeit a slight increase in feed price.
In a filing with Bursa Malaysia today, the poultry farming company reported a 29.4% increase in revenue to RM112.59 million in 1QFY15, from RM87.04 million in the same quarter a year ago, which was also attributed to the higher selling price of eggs, coupled with higher production quantity.
The group did not declare any dividend in the quarter.
As for its prospects, Teo Seng said in view of current stable raw material prices, the group is of the opinion that the financial results for the remaining nine months period ending Dec 31, 2015 are satisfactory.
Teo Seng (fundamental:1.9; valuation:2.1)'s shares closed up 3.31% today at RM1.87, with a market capitalisation of RM561 million.
[size=12](Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)[/size]