KUALA LUMPUR: PPB Group Bhd
's net profit decreased to RM234.02 million in the first quarter ended March 31, 2026 (1Q 2026), compared to RM375.83 million in the same quarter a year ago.
In a Bursa Malaysia filing today, it said revenue also declined to RM1.29 billion during the quarter from RM1.35 billion previously, weighed down by lower contribution from Wilmar International Ltd and lower core business segment profits.
"The lower profit in 1Q 2026 was mainly attributable to 31 per cent lower contribution from Wilmar at RM196 million (1Q 2025: RM283 million) and lower core business segment profits by 53 per cent to RM59 million (1Q 2025: RM127 million)," it said.
It said grains and agribusiness segment revenue for 1Q 2026 was lower at RM897 million; film exhibition and distribution segment revenue weakened to RM125 million; while other operations segment profit slipped to RM207 million, mainly attributable by lower contribution from Wilmar.
Meanwhile, it said the consumer products segment revenue for 1Q 2026 increased to RM247 million, and the property segment revenue rose to RM16 million.
On prospects, it said the group continues to closely monitor West Asia developments and actively manage their implications on cost pressures across the value chain.
"For the grains and agribusiness segment, the group will continue to strengthen its grains procurement strategy through diversified sourcing to mitigate supply disruptions and price volatility arising from adverse weather conditions in key grains-producing regions.
"The strengthening of the ringgit against the US dollar has also provided some relief to grain importers amid ongoing costs and margin pressures," it said.
PPB said that amid the evolving and challenging operating landscapes, the group remains resilient and is cautiously optimistic that the grains and agribusiness segment will continue to deliver satisfactory performance for the remainder of the year.
It added that Wilmar's performance will continue to contribute substantially to the overall profitability of the group. - Bernama
