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Latest News
LTKM Expects Earning Contribution From Glass Business In 2012
 
News From : DagangHalal.com (25/8/2010)

SHAH ALAM, Aug 25 (Bernama) -- An egg producer, LTKM Bhd, diversifying into processed glass manufacturing, expects the new business to start contributing to its earnings in the next financial year ending March 31, 2012.

Managing Director Tan Kok (rpt Tan Kok) said the company has allocated RM35 million to build the new plant at Jalan Kapar in Klang.

The plant is to commence operations by early next year.

It will have a production capacity close to 200,000 square metres of glass annually, he told BERNAMA after the company's annual general meeting here Wednesday.

The new business will be managed by the company's subsidiary, Lumiglass Sdn Bhd.

Tan said though the diversification provides a good prospect for the company to re-invest and diversify its sources of income, poultry business would remain its core activity and key financial contributor.

"However, we expect the poultry business to be more challenging due to stringent operating requirements, higher price of raw materials and keen competition from other egg producers," he said.

The 160-hectare LTKM's poultry farm in Melaka produces over a million eggs in a day. Almost 60 per cent of its eggs are for the domestic market while the balance 40 per cent are exported to Singapore.

Its main brand is "LTK Omega Plus".

For the financial year ended March 31, 2010, the company s pre-tax profit jumped 74 per cent to RM21.069 million from RM12.132 million in the same period last year.

Revenue however eased by two per cent to RM131.429 million from RM133.537 million.

-- BERNAMA

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