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NewsPPB Q1 profit drops 38.96%
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PPB Q1 profit drops 38.96%
by Cals Thu 22 May 2014, 08:07
[size=32]PPB Q1 profit drops 38.96%[/size]
[size=13]Posted on 22 May 2014 - 05:40am
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[size=14]PETALING JAYA: PPB Group Bhd's net profit declined 39% to RM144.27 million for the first quarter ended March 31, 2014 from RM236.34 million a year ago, dragged down by lower profit contribution from the Singapore-listed associate Wilmar International Ltd.
Its revenue, however, increased 16% from RM763.85 million to RM883.19 million, supported by the growth in the flour and feed milling and grains trading segment.
PPB told Bursa Malaysia that building on the steady momentum in the first quarter of the year, it expects the remaining quarters to deliver good results.
"Nevertheless, the group's overall consolidated financial results will continue to be contingent on Wilmar's business performance," it added.
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[size=14]PETALING JAYA: PPB Group Bhd's net profit declined 39% to RM144.27 million for the first quarter ended March 31, 2014 from RM236.34 million a year ago, dragged down by lower profit contribution from the Singapore-listed associate Wilmar International Ltd.
Its revenue, however, increased 16% from RM763.85 million to RM883.19 million, supported by the growth in the flour and feed milling and grains trading segment.
PPB told Bursa Malaysia that building on the steady momentum in the first quarter of the year, it expects the remaining quarters to deliver good results.
"Nevertheless, the group's overall consolidated financial results will continue to be contingent on Wilmar's business performance," it added.
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