Higher egg sales lift Chew's Group net profit by 10% to $2.3 million

Eggs producer Chew's Group has posted a 10 per cent rise in net profit to $2.3 million.

Revenue for the 12 months to Sept 30 was up 19 per cent at $28.3 million.

Earnings per share climbed to 2.72 cents from 2.47 cents previously. Net asset value per share firmed up, rising by 2.22 cents to 24.63 cents.

The improvement was attributable mainly to the increased sales of designer and generic eggs produced by the group. Daily production rose by about 60,000 eggs to some 460,000.

The group's investment in research and development projects with the Food Innovation and Resource Centre of Singapore - to process spent hens and eggs into "ready-to-eat" food - would create another revenue stream and an avenue for disposing of spent hens.

It is looking to introduce Chew's Chicken Soup to the market in this financial year.

A final dividend of 0.53 cent a share was proposed, up from 0.49 cent last year.

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