KUALA LUMPUR: As expected, PPB Group Bhd saw its net profit for 3Q ended Sept 30 decline by 20.3% year-on-year to RM229.41 million from RM287.99 million previously despite a 23.6% higher revenue to RM710.26 million from RM574.53 million.
PPB said the grains trading, flour, feed milling, environmental engineering and livestock farming divisions together with Wilmar International Ltd, an associate of the group, contributed higher profits.
However, the profit was lower for 3Q compared with a year ago because the returns in 2010 were helped by gains in property investments and investments in equities.
For the nine months ended Sept 30, PPB’s net profit declined by 55.4% to RM771.07 million from RM1.73 billion for the previous corresponding period.
Revenue for the period was RM1.97 billion, 19% higher than the RM1.66 billion a year ago.
On its prospects for the rest of the year, PPB said the global economy, particularly in the eurozone, remains difficult and uncertain and key factors such as volatile commodity prices, rising fuel costs and fluctuating exchange rates will affect the group’s performance.
This article appeared in The Edge Financial Daily, November 23, 2011.
PPB said the grains trading, flour, feed milling, environmental engineering and livestock farming divisions together with Wilmar International Ltd, an associate of the group, contributed higher profits.
However, the profit was lower for 3Q compared with a year ago because the returns in 2010 were helped by gains in property investments and investments in equities.
For the nine months ended Sept 30, PPB’s net profit declined by 55.4% to RM771.07 million from RM1.73 billion for the previous corresponding period.
Revenue for the period was RM1.97 billion, 19% higher than the RM1.66 billion a year ago.
On its prospects for the rest of the year, PPB said the global economy, particularly in the eurozone, remains difficult and uncertain and key factors such as volatile commodity prices, rising fuel costs and fluctuating exchange rates will affect the group’s performance.
This article appeared in The Edge Financial Daily, November 23, 2011.
