news

PPB Group 4Q net profit jumps 58%, pays 23 sen dividend

KUALA LUMPUR (Feb 27): PPB Group Bhd’s net profit rose 58.1% to RM349.95 million in its fourth quarter ended Dec 31, 2019 (4QFY19) from RM221.34 million a year ago, mainly due to higher contribution from its associate Wilmar International Ltd.

This improves PPB’s earnings per share to 24.6 sen for 4QFY19 compared with 15.56 sen for 4QFY18.

Quarterly revenue grew 1.4% to RM1.18 billion from RM1.16 billion in 4QFY18, its exchange filing today showed.

PPB also proposed a final dividend of 23 sen per share for the financial year ended Dec 31, 2019 (FY19), payable on June 2. This brings total dividends for the year to 31 sen per share.

For the full year FY19, PPB’s net profit grew 7.2% to RM1.15 billion versus RM1.08 billion in the previous year while revenue rose 3.4% to RM4.68 billion from RM4.53 billion in FY18.

PPB attributed the better FY19 earnings to higher contribution from Wilmar of RM960 million compared with RM837 million in FY18 as well as higher profits from the grains and agribusiness segment by 17% to RM213 million.

Going forward, the group said its financial results would depend substantially on Wilmar’s business performance but sees its main business segments performing satisfactorily in FY20.

Shares in PPB closed 44 sen or 2.5% higher at RM18.30 today, valuing the group at RM26.03 billion.

Click here to see commercial properties for sale in Kuala Lumpur.

Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. Ekovest back in the black thanks to resumption of business activities
  2. Sunway returns to profit in 3Q as business ops resume after movement restrictions lift
  3. DOSM: Business prospects forecast to improve in 4Q but remain pessimistic