KUALA LUMPUR (Feb 26): QL Resources Bhd's net profit rose 3.2% to RM57.86 million in the third quarter ended Dec 31, 2017 (3QFY18) from RM56.04 million a year ago, on higher contribution from its integrated livestock farming (ILF) segment.

Its marine product manufacturing's current quarter sales increased 16% year-on-year (y-o-y) due to overall higher contribution from surimi-based products operation.

This resulted in a higher earnings per share of 3.57 sen in 3QFY18 from 3.45 sen in 3QFY17. Quarterly revenue also rose 11.6% to RM892.02 million, from RM799.06 million in 3QFY17.

In a filing with Bursa Malaysia today, QL Resources said ILF's current quarter earnings increased 47% year-on-year, mainly due to higher contributions from its Indonesian and East Malaysia poultry farms operation.

For the cumulative nine months (9MFY18), QL Resources's net profit increased 7.5% to RM159.87 million from RM148.69 million a year ago, while revenue grew 12.8% to RM2.48 billion from RM2.2 billion in 9MFY17.

On prospects, QL Resources said the management is cautiously optimistic on its 4QFY18 performance, so as to deliver another year of growth.

QL Resources shares closed up one sen or 0.2% at RM4.95 today, with 2.04 million shares done, bringing a market capitalisation of RM8.03 billion. The counter has appreciated nearly 50% in the past one year.