PPB Group’s 4Q net profit jumps 21.2%, driven mainly by grains and agribusiness segment

by **Cals** Tue 01 Mar 2016, 18:36

PPB Group’s 4Q net profit jumps 21.2%, driven mainly by grains and agribusiness segment

By Billy Toh / theedgemarkets.com | March 1, 2016 : 3:05 PM MYT

KUALA LUMPUR (March 1): PPB Group Bhd’s fourth quarter’s net profit for financial year ended Dec 31, 2015 (4QFY15) jumped 21.2% to RM341 million versus RM281.43 million a year earlier, driven mainly by higher profit contribution from the grains and agribusiness segment in addition to a foreign exchange translation gain on Wilmar’s results which are reported in US Dollar, as well as profits from investment and other operational segment.

The group’s revenue rose by 16.86% in 4QFY15 to RM1.09 billion, compared to RM993 million in 4QFY14, primarily due to higher revenue from grains and agribusiness, film exhibition, environmental engineering and property segments.

The management has proposed a final single tier dividend of 17 sen per share for financial year ended Dec 2015, which will be tabled for approval at the Annual General Meeting, which is on May 10, 2016. The final dividend is payable on May 25, 2016 to shareholders whose names appear in the Record of Depositors on May 13, 2016.

For the full year 2015, PPB saw its’ net profit increased by 14.67% to RM1.05 billion, from RM917 million a year ago.

The Group’s FY15 revenue rose by 9% to RM4.05 billion, from RM3.70 billion a year ago, mainly due to improved revenue from the grains and agribusiness, film exhibition and distribution and environmental engineering and utilities segment.

On the outlook for 2016, the management is confident that the Group’s established market position in the grains and agribusiness segment, as well as the extensive distribution network in the consumer products segment, will help PPB Group to remain resilient in the year ahead, despite a challenging environment.
“The film exhibition and distribution segment should continue to deliver healthy performance from strong movie title line-ups and newly-opened cinemas,” said the Managing Director of PPB Group, Lim Soon Huat.