Corporate results : Leong Hup and UOA Development


Leong Hup registers higher profit for 3Q
Leong Hup International Bhd registered a higher profit of RM44.38 million in the third quarter ended Sept 30, 2019 (3Q19) against RM35.21 million in the same period last year. Earnings per share for the quarter was 1.22 sen. The poultry products producer’s revenue for 3Q19 stood at RM1.53 billion versus RM1.42 billion 3Q18. The revenue from sales of livestock and poultry related products increased by about 5.3% from RM814.88 million in 3Q18 to RM858.21 million in 3Q19 due to an increase in average selling price and sales volume of broiler chickens and eggs in Malaysia. Revenue from the feedmill business increased by 10% year-on-year to RM665.80 million in 3Q19 primarily due to an increase in sales volume and average selling price of livestock feed in Indonesia and Vietnam, its exchange filing yesterday stated. For the cumulative nine months, the group registered a lower profit of RM121.05 million compared to RM153.55 million in the preceding year corresponding period while revenue increased to RM4.51 billion versus RM4.19 billion previously.

UOA Development posts net profit of RM101.9m in 3Q
UOA Development Bhd posted a net profit of RM101.9 million for the third quarter ended Sept 30, 2019 (3Q19) from RM92.2 million net profit made for the same period a year ago. Earnings per share for the quarter was 5.28 sen. Revenue for the quarter fell 4% year-on-year (YoY) to RM288.4 million bringing the year-to-date (YTD) revenue to RM877.4 million, an increase of 13% YoY. The group stated in its exchange filing yesterday the improved level of revenue and net profit was attributable to progressive recognition from on-going development projects and the sales of completed offices and residential units.