Teo Seng Capital FY2024 Net Profit Rises To RM183.36 Mln

KUALA LUMPUR, Feb 17 (Bernama) -- Teo Seng Capital Bhd posted a higher net profit of RM183.36 million for the financial year ended Dec 31, 2024 (FY2024), up from RM155.80 million a year earlier.  

However, revenue declined to RM753.77 million from RM760.98 million, the company said in a filing with Bursa Malaysia today.

For the fourth quarter (4Q) of FY2024, net profit fell to RM64.90 million from RM66.89 million in the same period of FY2023. Revenue dropped to RM188.42 million from RM199.85 million, reflecting lower egg selling prices.  

The company declared a fourth interim single-tier dividend of 2.0 sen per share, amounting to RM11.8 million, bringing total dividends for the year to RM40.1 million.  

On prospects, Teo Seng Capital said it is well-positioned to capitalise on market growth as eggs remain a staple protein source and consumption continues to rise.  

“The group is actively expanding capacity, supported by a strong balance sheet and a focus on operational excellence.  

“Despite global economic challenges and inflationary pressures, the group remains confident in its resilience,” it said.

-- BERNAMA