PPB earnings may be lower due to higher costs

PPB Group Bhd expects earnings for the financial year ending December 2005 to be eroded by high raw material costs and ocean freight rates, chairman Datuk Oh Siew Nam said.  

“The year 2004 was very good for us. We had our strongest performance to date. The board is conservative that profit this year may be lower than in 2004 due to high raw material costs and ocean freight rates,” Oh said during a press briefing in Kuala Lumpur yesterday to announce last year’s financial results.