RHB Investment Bank said all segments except food products delivered stronger numbers. “The food products segment saw a 13% year-on-year decline in pre-tax profit contribution, due to higher commodity prices and the time-lag in passing on the higher costs to consumers, as well as the lower sales volume of consumer products, says RHB Investment Bank. (File pic shows Willmar Arawana cooking oil in Shanghai)
KUALA LUMPUR: PPB Group Bhd
is expected to see improved earnings in the second half of 2021, supported by contributions from its 18.6%-owned associate Wilmar International Ltd and higher profitability in its grains and agribusiness.
Kenanga Research said in a report yesterday the group’s food products segment is still expected to be impacted by high feedstock prices, although partial mitigation from some selling price adjustments could be possible.
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