PPB’s 4Q net profit falls 8% y-o-y to RM281m, declares 17 sen dividend

by **Cals** Sat 01 Mar 2014, 01:45

Business & Markets 2014

Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com

Friday, 28 February 2014 19:13

KUALA LUMPUR (Feb 28): PPB Group Bhd’s net profit for the fourth quarter fell 8% year-on-year to RM280.7 million, from RM306.0 million previously.

Despite the lower profit, revenue rose 15% to RM900.2 million in 4QFY13, from RM782.6 million in 4QFY12.

The group declared a final single-tier dividend of 17 sen per share, payable on June 6, 2014.

Net profit for the full year rose to RM994.2 million from RM842.2 million in the previous year, while revenue rose to RM3.31 billion from RM3.02 billion.

The lower profit for the quarter was attributed to lesser contribution from its associate Wilmar International Ltd and lower profits from its flour and feed milling, and grains trading segment.

On the other hand, revenue was higher as most of the group’s segments had registered higher earnings, with the exception of its environmental engineering segment.

Looking forward, the group expects to continue to "perform positively" in 2014.

“With the group’s strong core business presence in Malaysia together with expansion in the cinema, flour and bakery segments progressively coming on-stream, it is anticipated that the group’s businesses will continue to perform well in 2014,” said PPB.

The group also mentioned that its overall consolidated financial results in 2014 would continue to be supported by Wilmar’s business performance.