Latest news with #RM56.6mil
The Star
29-05-2025
- Business
- The Star
Leong Hup's 1Q25 net profit jumps 80%
PETALING JAYA: Leong Hup International Bhd (LHI) remains cautiously optimistic despite ongoing uncertainties and challenges, as the group sees strong growth potential in per capita chicken and egg consumption across the countries where it operates. 'In addition, we expect margins to be cushioned with the easing of feed input costs, particularly corn and soybean meal. 'In light of the uncertainty and challenging times ahead, the group will exercise prudence in managing its financial resources. Barring any unforeseen circumstances, the group expects to deliver a satisfactory performance in 2025,' the integrated producers of poultry, eggs and livestock feed said. In the first quarter of financial year ended March 31 (1Q25), LHI's net profit jumped 80% to RM101.8mil against RM56.6mil in the year-ago quarter. Revenue, however, dipped 8.3% to RM2.21bil compared with RM2.4bil previously, while earnings per share rose to 2.81 sen from 1.55 sen last year.
The Star
29-05-2025
- Business
- The Star
LHI's 1Q net profit jumps 80% to RM101.8mil
KUALA LUMPUR: Leong Hup International Bhd (LHI) remains cautiously optimistic despite ongoing uncertainties and challenges, as the group sees strong growth potential in per capita chicken and egg consumption across the countries where it operates. 'In addition, we expect margins to be cushioned with the easing of feed input costs, particularly corn and soybean meal. 'In light of the uncertainty and challenging times ahead, the group will exercise prudence in managing its financial resources. Barring any unforeseen circumstances, the group expects to deliver a satisfactory performance in 2025,' the integrated producers of poultry, eggs and livestock feed said. In the first quarter ended March 31, LHI's net profit jumped 80% to RM101.8mil against RM56.6mil in the year-ago quarter. Revenue, however, dipped 8.3% to RM2.21bil compared with RM2.4bil previously, while earnings per share rose to 2.81 sen from 1.55 sen last year. LHI said its revenue from sales of livestock and poultry-related products marginally increased by 0.7% from RM1.3bil in 1Q24 to RM1.32bil in 1Q25. While the Philippines saw revenue growth driven by higher average selling price and sales volume of dressed chicken, this was offset by the reduction in Malaysia and Singapore markets, leading to minimal overall change in revenue. LHI said although average selling prices of day-old-chick and broiler chicken in Malaysia increased, the revenue decreased due to lower average selling price of eggs. Singapore's revenue decreased mainly from lower average selling price and sales volume of fresh chicken and lower sales volume of ducks. Meanwhile, the group's revenue from feedmill decreased by 19.2% from RM1.09bil in 1Q24 to RM882.7mil in 1Q25. The decrease was due primarily to lower average selling price in all countries that the group operates in, following the reduction in raw material costs and lower sales volume in Vietnam and Malaysia. LHI has declared a single-tier first interim dividend of 1.00 sen per ordinary share amounting to RM36mil in respect of the financial year ending Dec 31, 2025, payable on July 1.
