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Leong Hup 1Q profit soars 80% to RM101.8m; declares 1 sen dividend

LEONG Hup International Bhd (LHI) saw a 79.92% jump in net profit to RM101.80 million for the first quarter ended March 31, 2025 (1Q25), driven by higher average selling prices and lower operating costs, with strong contributions from Malaysia, Vietnam, and the Philippines. The group declared a first interim dividend of one sen per share, payable on July 1. Despite the profit surge, quarterly revenue declined 8.30% year-on-year to RM2.21 billion, weighed down by weaker performance in Malaysia and Singapore. While the Philippines saw higher revenue from increased chicken prices and volumes, it was not enough to offset lower egg prices in Malaysia and reduced fresh chicken and duck sales in Singapore. Looking ahead, Leong Hup expects margins to remain supported by easing feed costs, especially for corn and soybean meal. The stock closed unchanged at 61 sen today, with a market cap of RM2.20 billion. –TMR