KUALA LUMPUR (Feb 10): Teo Seng Capital Bhd's (KL:TEOSENG) fourth quarter net profit nearly halved from a year earlier following the removal of the government egg subsidy.

Net profit for the three months ended Dec 31, 2025 (4QFY2025) fell 48.4% to RM33.52 million from RM64.9 million previously, according to the poultry and animal health products company’s bourse filing on Tuesday. Revenue rose 3.2% to RM194.38 million from RM188.42 million.

The drop in earnings came as other income fell to RM7.16 million from RM47.18 million previously.

Previously, Teo Seng, like other poultry and egg producers, benefitted from the egg subsidy, which came to an end in August last year. The government subsidy was booked under other income, according to the company's latest annual report.

Under the poultry farming segment, lower average selling prices of eggs was partially offset by higher sales volume. As for the investment and trading segment, revenue improved on higher demand for animal health products, though earnings also declined.

No dividend was declared for the quarter.

For the full year, net profit dropped 22.5% to RM142.09 million from RM183.36 million in FY2024, as revenue slipped 2.4% to RM735.88 million from RM753.77 million.

Commenting briefly on its prospects for the ongoing fiscal year, Teo Seng said it expects its performance to remain “satisfactory” in view of sustainable productivity, stable feed price, and appreciation of the ringgit.

Shares in Teo Seng ended unchanged at RM1.05, valuing the company at RM630.02 million.