Teo Seng back in black in first quarter

PETALING JAYA: Poultry farmer Teo Seng Capital Bhd returned to the black in the first quarter ended March 31, 2018 with a net profit of RM6.61 million against a net loss of RM4.84 million recorded a year ago, on the back of sustained selling price of eggs coupled with lower feed cost.
Revenue increased 13.4% to RM115.08 million from RM101.48 million in the preceding year's corresponding quarter.
"In view of the current lower selling price, the directors are in opinion that the forthcoming year's financial performance for the nine months period ending Dec 31, 2018 is still challenging," Teo Seng said on its prospects.
On Bursa Malaysia today, Teo Seng closed unchanged at 94 sen on volume of 370,600 shares.