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PETALING JAYA: Lay Hong Bhd
foresees challenging times ahead as the chicken and egg subsidy that was meant to end on June 30, 2023, has now been extended.
The egg producer said the supply situation will remain tight while cost of production is expected to increase.
“The government’s introduction of the new electricity tariff structure and cost of major raw materials like corn and soybean have continued to remain high,” it said.
“Given this unfavourable operating environment, the group’s performance going forward will remain challenging.”
The group posted a lower revenue of RM258mil for the first quarter ended June 30, 2023 on the back of lower retail sales.
Its profit was higher at RM4.02mil, compared with RM3.71mil a year earlier.
Basic earnings per share stood at 0.54 sen versus 0.50 sen previously.
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