PETALING JAYA: Teo Seng Capital Bhd’s net profit rose to RM2.28mil for the third quarter ended Sept 30, 2021 (Q3’21) from RM1.24mil in Q3’20 in tandem with higher revenue.

       The poultry company saw its revenue increase 17.5% to RM144.53mil in Q3’21 from RM123.02mil in Q3’20 on the back of improved selling prices of eggs and strong demand.

       Year-to-date, Teo Seng posted a net loss of RM9.05mil, compared with a net profit of RM6.33mil in the nine months to September 2020, despite revenue rising to RM378mil from RM359.75mil previously.

       Teo Seng noted the outlook for the poultry industry has improved following the reopening of the economy.

       Teo Seng said it would continue to focus on production efficiency and cost effectiveness to sustain its financial performance, enhance competitive advantages and create shareholders’ value.