Teo Seng’s 2Q26 net profit plunges 82.5% to RM7.36mil

KUALA LUMPUR: Teo Seng Capital Bhd’s net profit plunged 82.5% to RM7.36mil in the second quarter ended June 30, 2026 (2Q26), as earnings were hit by the lifting of the egg subsidy scheme.

This compared with a net profit of RM42.1mil in the year-ago quarter, while revenue was flat at RM171.42mil versus RM171.4mil last year.

For the first six months to June 30, 2026, Teo Seng’s net profit fell 73.4% to RM22.1mil from RM83.2mil a year earlier, despite revenue rising 4.7% to RM355.98mil from RM339.95mil.

Teo Seng said its poultry farming segment recorded a 4.9% increase in first-half revenue to RM297.72mil.

However, the segment’s pre-tax profit fell 76.9% to RM16.25mil from RM70.48mil, mainly due to the removal of the egg subsidy scheme.

Its animal health-related products segment recorded a 3.6% increase in revenue to RM58.26mil, while pre-tax profit rose 16.2% to RM13.91mil on stable demand.

Looking ahead, Teo Seng said sustainable productivity, a stable local currency and improving market conditions should support satisfactory financial performance for the remaining six months of 2026.

The board declared a first interim single-tier dividend of one sen per share, amounting to about RM5.66mil.