Lay Hong reverses loss to post RM1.1m 2Q net profit
KUALA LUMPUR: Lay Hong Bhd registered a net profit of RM1.11 million for the second quarter ended Sept 30, 2019 (2QFY20), a significant improvement over the RM10.96 million net loss reported a year ago.
This was mainly due to a higher quantity and price of poultry products, it said in a filing with Bursa Malaysia yesterday.
Quarterly revenue rose 15.84% to RM216.66 million, from RM187.03 million, the group said.
For the cumulative six months, the group posted a net profit of RM4.98 million versus a net loss of RM8.68 million for the previous corresponding period.
Executive director Datuk Yap Chor How said: “The repopulation of layers at the Sabah farm has been completed and it is expected that the production of table eggs will normalised in the third quarter.”
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