PPB posts Q2 net loss on Wilmar

Wilmar's profit warning will have an impact on PPB Group

PETALING JAYA: PPB Group Bhd posted a second-quarter ended June 30 net loss of RM78.7mil weighed down by its associate Wilmar International Ltd that incurred a loss in the quarter.

The company said in the notes to its financial statement that Wilmar contributed to a RM29mil loss for the quarter under review.

However, the company’s revenue rose by 7% to RM1.06bil compared with RM986mil in the same quarter a year ago.

The higher revenue was attributable to its grains and agribusiness; environmental engineering and utilities; consumer products and property segments.

PPB has also declared an interim single-tier dividend of eight sen for the financial year ending Dec 31, 2016, which was also declared at the same time last year.

“The interim single-tier dividend is payable on Sept 28, 2016 to shareholders whose names appear in the record of depositors at the close of business on Sept 9, 2016,” it said.

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