PBB Group posts lower Q2 net profit of RM183.47 mln

KUALA LUMPUR, PPB Group Bhd posted a lower net profit of RM183.47 million for the second quarter (Q2) ended June 30, 2021, compared to RM332.73 million in the same quarter last year.

Revenue increased to RM1.08 billion from RM953.34 million recorded in the same period previously, mainly contributed by the grains and agribusiness segment, it said in a filing with Bursa Malaysia today.

The diversified conglomerate also said that for the first half of 2021 (1H 2021), its revenue increased by nine per cent to RM2.2 billion mainly due to higher revenue from the grains and agribusiness segment at RM1.7 billion.

Meanwhile, its environmental engineering and distribution segment and property segment recorded higher revenue, while the consumer product segment remained stable.

On prospects, the group noted that the COVID-19 pandemic is expected to continue weighing down on the film exhibition and distribution and property segments.

“The grains and agribusiness segment, which is in the production and distribution of staple food and services, is expected to ride through the challenging operating environment and deliver a satisfactory set of results for the rest of the year,” it said.

The group also declared an interim dividend for the financial year ending Dec 31, 2021 of 10 sen per share, which will be paid on Sept 28, 2021.

At the close today, PPB’s share price rose by 20 sen to RM18.56 with a total of 823,700 shares changing hands.

Source: BERNAMA News Agency