Endemic phase to spur PBB’s earnings outlook

Wilmar will also continue to provide support to PPB Group’s earnings, added the research house. Hence, MIDF Research maintained a “buy” call on PPB with a target price (TP) of RM21.37

PETALING JAYA: PPB Group Bhd’s outlook remains promising given the anticipated higher contribution from its associate company, Wilmar International Ltd on the back of higher crude palm oil prices.

MIDF Research said this was despite PPB’s below-than-expected first quarter results for financial year 2022 (1Q22). The group’s net profit fell to RM303.16mil in 1Q22, as compared with RM402.18mil in the previous corresponding quarter. The research house said it will leave its earnings forecast for PPB’s FY22 and FY23 unchanged.