PPB ... Jun 09

PPB GROUP's Net Profit fell 29% to RM271.8m for 1QE Mar 31, 2009 from RM383.1m a year ago due to higher raw material costs incurred by the sugar refining and flour and milling divisions.

In the Company filing on May 19, 2009, PPB said its associate company, WILMAR INTERNATIONAL ltd (Singapore) contributed RM255m to the Group.

Revenue was RM772.5m, down 4% from RM808.8m while EPS was 22.93 sen against 32.32 sen a year ago. The Company said that the decline in its Revenue was due to lower revenue recorded by the flour and animal feed milling, chemicals trading and property investment divisions.

PERFORMANCE TO BE NEGATIVE FOR REST OF 2009
" .... The global financial and economic crisis is expected to affect the Group's performance for the rest of 2009 in respect of lower demand and margins for the goods and services offered by the Group .... In addition, changes in prices of raw materials and ocean freight will be the key factors affecting the Group's profitability. However, Group performance for the year (2009) will still remain satisfactory ...." it said.