KUALA LUMPUR: The Minority Shareholder Watchdog Group (MSWG) plans to raise questions over the growth prospects for LAY HONG BHD [] after one of the major customers ceased to continue the purchase of its pasteurised liquid eggs.
It said the customer was also a substantial shareholder who had disposed of its stake during the year.
MSWG plans to raise the question at the company's AGM on Thursday, Sept 29 which will be held at Prescott Hotel in Klang at 11.30am.
Another question which it would raise was the outlook for the anticipated sales growth of Lay Hong's downstream food products after it had upgraded the production facilities and also recent efforts to increase its sales channel.
In addition, the group also plans to ask about the operating margin of the downstream food products as compared to the sale of fresh table eggs and live broilers.
In its 1Q ended June 30, 2011, its net profit rose 10.6% to RM2.66 million from RM2.36 million. Revenue was RM114.24 million compared with RM96.16 million a year ago. Earnings per share were 5.45 sen compared to 5.11 sen a year ago.
It said the customer was also a substantial shareholder who had disposed of its stake during the year.
MSWG plans to raise the question at the company's AGM on Thursday, Sept 29 which will be held at Prescott Hotel in Klang at 11.30am.
Another question which it would raise was the outlook for the anticipated sales growth of Lay Hong's downstream food products after it had upgraded the production facilities and also recent efforts to increase its sales channel.
In addition, the group also plans to ask about the operating margin of the downstream food products as compared to the sale of fresh table eggs and live broilers.
In its 1Q ended June 30, 2011, its net profit rose 10.6% to RM2.66 million from RM2.36 million. Revenue was RM114.24 million compared with RM96.16 million a year ago. Earnings per share were 5.45 sen compared to 5.11 sen a year ago.
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