KUALA LUMPUR: Leong Hup International Bhd
said the strong regional economies provide a good backdrop for higher consumption of its products.
“While the high cost of raw materials and attempts by governments to manage food inflation continues to create uncertainties for our financial performance, barring unforeseen circumstances, the group expects to achieve a satisfactory performance for financial year 2023,” the integrated poultry producer said in a filing with Bursa Malaysia.
In the first quarter ended March 31 (1Q23), Leong Hup’s net profit rose 8.7% to RM22.1mil, or earnings per share of 0.61 sen against RM20.4mil, or 0.56 sen in the same quarter last year.
Revenue grew by 5.2% to RM2.2bil from RM2.1bil last year.
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