Tuesday, November 22, 2011

PPB Group 3Q earnings fall 20.3% to RM229m, Wilmar weighs

KUALA LUMPUR (Nov 22): PPB GROUP BHD []'s earnings fell 20.3% to RM229.40 million in the third quarter ended Sept 30 from RM287.99 million a year mainly due to lower contribution from its associate, Wilmar International Ltd.

It said on Tuesday the lower Wilmar contribution had weighed its earnings despite the better performance by the grains trading, flour and feed milling division.

PPB's revenue rose 23.6% to RM710.26 million from RM574.53 million while earnings per share were 19.35 sen from 24.29 sen.

It said earnings in the nine months ended September fell 55.4% to RM710.20 million from'' RM1.73 billion despite that revenue rose 18.5% to RM1.966 billion from RM1.659 billion.

'The increase (in revenue) was due mainly to higher flour revenue and an increase in grains trading volume recorded by the grains trading, flour and feed milling division,' it said.

PPB added the environmental engineering, film exhibition and distribution, chemicals trading and manufacturing, livestock farming as well as consumer product divisions also contributed higher revenue for the period under review.

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