PETALING JAYA: Leong Hup International Bhd
(LHI) noticed its income rise 15% to RM1.81bil for the third quarter ended Sept 30, 2021 (Q3’21) from RM1.57bil in Q3’20, lifted by its livestock and poultry-related merchandise phase.
The built-in producers of poultry, eggs and livestock feed stated in the course of the quarter in overview, the phase posted a development of 9.5% in income on greater contribution from Indonesia and Malaysia.
Nevertheless, because of the escalation of the Covid-19 pandemic, LHI slipped right into a internet lack of RM53.42mil in Q3’21 from a internet revenue of RM22.53mil in Q3’20.
In a press release, the corporate stated broad-based lockdowns had negatively affected all demand channels, as financial actions had been considerably scaled again throughout Q3’21.
Whereas the group managed to take care of its regular working capability, demand curtailment was extra pronounced than earlier quarters because of the simultaneous implementation of strict motion restrictions throughout LHI’s working markets, particularly Malaysia, Indonesia, Vietnam and the Philippines, it stated.
Yr-to-date, LHI’s income rose 20.3% to RM5.33bil from RM4.43bil within the 9 months to September 2020, whereas internet revenue fell to RM47.42mil from RM60.59mil.
Leong Hup Lau Tuang Nguang
Commenting on the group’s prospects, LHI govt director/group CEO Tan Sri Francis Lau Tuang Nguang (pic above) stated though bettering, enterprise circumstances had remained powerful with demand hovering under pre-Covid-19 ranges.
“However, we’re optimistic that the group will proceed to navigate the brand new market actuality with our fundamentals firmly intact.
“As we deploy enterprise restoration measures, value management stays an essential and ongoing agenda.
“The group’s downstream play continues to be a key strategic focus, as we search to diversify LHI’s income base, reinvest into worthwhile development and deepen integration throughout the poultry worth chain,” he added.
