Leong Hup slips into the red in Q3

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Malaysia-based Leong Hup International posted a net loss of USD 12.7 million for Q3 2021 against a net profit of nearly USD 5.4 million the year before. The company said pretax profits slipped 350.6% due to lower price of broilers in Vietnam and margin compression stemming from high feed costs. It recorded a revenue of USD 430 million for the period, up 15% from last year. The higher revenue came from Indonesia’s broiler chicken/DOC sales, while Malaysia’s contribution was from eggs and the expansion of its downstream businesses.

Editor, Alternative Protein, Asian Meat Magazine, Kuala Lumpur, Malaysia. Analyses the challenges in cage free egg production and its viability in Asia in the article, ‘Is cage-free commitment feasible with premium costs?'