Teo Seng’s FY24 PAT Increases 17.7% To RM183.3 Million
Teo Seng Capital Berhad announced its financial result of fourth quarter ended 31 December 2024, reporting revenue and a profit after tax of RM188.4 million and RM64.9 million.
The group saw its revenue decline marginally by 5.7% compared to the corresponding quarter last year of RM199.9 million primarily due to lower egg selling prices. Despite this, the Group maintained a resilient profitability, with a slight 3% reduction in PAT i.e. reduced by RM2.0 million, compared to the corresponding quarter last year of RM66.9 million.
On year-to-date basis, the Group’s revenue registered a modest decline of 0.9% compared to the previous year but PAT for the 12 months period demonstrated significant improvement, increasing by RM27.6 million, or 17.7% to RM183.3 million.
Segment Performance: Driving Growth Amidst Challenges
Poultry Farming Segment: Revenue for the Poultry Farming segment registered RM159.9 million, with a pre-tax profit of RM67.6 million, which representing declined of 8.8% and 6.1% respectively against corresponding quarter last year. The reduction was primarily due to lower egg selling prices despite higher egg sales quantity.
Investment and Trading of Poultry-Related Products Segment: This segment reported a revenue of RM28.6 million, and an outstanding improvement in pre-tax profit of RM5.2 million, representing a 67.4% increase as compared with pre-tax profit recorded in the corresponding quarter last year, RM3.1 million. The growth was fueled by heightened in animal health products.
