KUALA LUMPUR (Aug 17): Poultry producer LTKM Bhd reported a 25% jump in its net profit to RM3.07 million or 2.36 sen per share for the first financial quarter ended June 30, 2016 (1QFY17) from RM2.45 million or 1.88 sen per share a year ago, driven by higher egg prices during the period.

Its quarterly revenue rose 5% to RM42.68 million from RM40.76 million in 1QFY16.

"Driven by higher egg prices, earnings from the poultry segment improved by over 70%, but were partly offset by losses in investment holdings," said LTKM in its bourse filing today.

Its poultry and related products segment saw a 73% spike in profit to RM6.33 million for the quarter, while its investment holdings segment widened losses by 214% year-on-year to RM1.63 million.

The group said revenue and contribution from its sand extraction and sale business and other segments did not significantly impact its performance during the quarter.

Going forward, LTKM maintains a positive view on the coming quarters, based on the stable costs of raw materials such as corn and soybean, as well as the higher egg prices.

"Contributions from the extraction and sale of sand are not expected to significantly differ whilst no material contributions are expected from the other segments," it said.

LTKM shares rose 2 sen or 1.44% to close at RM1.41, giving it a market capitalisation of RM182.15 million.