Leong Hup International’s 4Q profit jumps 73% to RM141mil

KUALA LUMPUR: Leong Hup International Bhd (LHI), which saw its net profit jump 72.6% in the fourth quarter ended Dec 31, 2024 (4Q24), expects to achieve a satisfactory performance for the financial year ending Dec 31, 2025 (FY25).

The poultry group, in a filing with Bursa Malaysia, said the unexpected weakening of the US dollar against the currencies in which LHI operates in 2024 led to lower feed costs.

“The easing of feed input costs, particularly corn and soybean meal, provides relief to the industry. Although the recent strengthening of the US dollar has reduced this benefit, barring any unforeseen circumstances, the group expects to achieve a satisfactory performance in FY25,” LHI said.

In 4Q24, LHI posted a higher net profit of RM140.8mil, or earnings per share of 3.86 sen against RM81.6mil, or 2.24 sen in the corresponding quarter last year.

Revenue, however, fell 4.06% to RM2.3bil from RM2.4bil posted a year ago.

For FY24, net profit rose 42% to RM428.9mil from RM301.7mil, while revenue declined 2.4% to RM9.3bil from RM9.5bil.