The company's second-quarter revenue was down to RM1.32bil from RM1.48bil previously,
KUALA LUMPUR: PPB Group Bhd
’s net profit for the second quarter ended June 30, 2024 (2Q24) increased to RM308.92mil against RM202.81mil in the same period last year.
Revenue, however, fell to RM1.32bil from RM1.48bil previously, the group said in a filing with Bursa Malaysia yesterday.
For the first half ended June 30, 2024 (1H24), the group recorded a higher net profit of RM646.09mil versus RM580.35mil, while revenue slipped to RM2.61bil from RM3bil previously.
The conglomerate said the lower revenue for 2Q24 and 1H24 was mainly due to the absence of contribution from its 2023-divested Indonesian flour operations.
“Excluding that, revenue for 2Q24 and 1H24 was relatively unchanged from 2Q23 and 1H23,” it said.
The higher net profit for 2Q24 was attributable to a higher contribution of RM244mil from Wilmar International Ltd versus RM139mil in 2Q23, and RM510mil in 1H24 against RM460mil a year ago.
An interim dividend of 12 sen per share will be payable on Sept 26, 2024. — Bernama
