PPB Oil Palms Bhd
PPB Oil Palms Bhd (formerly Perlis Plantations Bhd) produced a sterling set of results, registering a net profit of RM123.56 million for the financial year ended Dec 31 2002, up 306.2 per cent from a net profit of RM30.42 million in the corresponding period the preceding year.
The company's revenue rose strongly from RM239.41 million to RM404.63 million.
The company's balance sheet was much healthier with net gearing reduced to eight per cent from 16 per cent, while short-term debts were reduced from RM146.6 million to only some RM41.5 million.
Excitement mounted when news of a 13 sen dividend payout was announced, in line with the stronger performance last year.
An online investment portal is of the view that PPB is set for a record year ahead, with current crude palm oil prices more than 20 per cent above the average of RM1,299 per tonne last year, while production is expected to grow by some six to seven per cent.
The investment portal has a buy call on the stock, and forecasts similar dividend payout for the current financial year. – by Jose Barrock