Investor Relations

Press Releases

Tuesday, 05 September 2023



  • For 1H2023, PPB Group revenue increased marginally to RM3.0 billion whilst Group pre-tax profit declined by 35% to RM648 million. The lower profits were mainly attributable to the lower contribution from Wilmar International Limited (“Wilmar”) by 54% to RM460 million.  The Group’s core business segments, however, recorded a profit of RM188 million in 1H2023 as compared to a loss of RM1.0 million in 1H2022.
  • Group profit for the period was lower at RM600 million, down 40% compared with RM998 million recorded in 1H2022. Earnings per share was at 40.80 sen, 42% lower compared with 70.05 sen in 1H2022.


PPB has declared an interim dividend of 12 sen per share for financial year ending 31 December 2023, payable on 22 September 2023 to shareholders whose names appear in the Record of Depositors on 13 September 2023.


The results of PPB’s main business operations for 1H2023 are summarised as follows :-

  • Grains and Agribusiness segment revenue for 1H2023 increased by 4% to RM2.26 billion. The segment recorded a profit of RM127 million in 1H2023 mainly due to the improved performance of the Malaysian operations with higher sales and profit margin, on the back of a less volatile grains commodity market during the period under review.
  • Consumer Products segment revenue for 1H2023 was higher at RM388 million, up 3%. Segment profit was lower for 1H2023 at RM12 million attributable mainly to lower sales of consumer products and higher trade promotion expenses.
  • Film Exhibition and Distribution segment revenue increased by 34% to RM296 million for 1H2023 whilst the segment turned around with a profit of RM14 million on the back of a 33% and 42% increase in box office collections and admissions respectively for the Malaysian operations, coupled with strong contribution from the Vietnam operations.
  • Property segment revenue and profit for 1H2023 was lower by 45% and 85% at RM45 million and RM3 million respectively. The lower revenue and profit were mainly attributable to the absence of progressive profit recognised for sold units as the Megah Rise residential project was fully completed in August 2022, and higher mall operating costs.


The global grains commodity market remained moderately volatile as the global supply risk could reemerge with any escalation of geopolitical tension between Ukraine and Russia, as well as weather conditions affecting the production forecast of grains-growing countries.

The performance of the Grains and Agribusiness segment has improved significantly in the first half of 2023 as compared to a year ago.  However, any downside supply risk could affect the performance of the segment for the rest of the year.

With a strong first-half performance, and our continuous efforts to drive production and cost efficiency, we expect the Grains and Agribusiness segment to perform satisfactorily.

The Consumer Products segment is expected to deliver a satisfactory set of results by capitalising on its established nationwide distribution network and integrated warehousing and marketing system, while continuing its efforts to expand its consumer products range and widen its distribution base.

The Film Exhibition and Distribution segment had a strong close in the second quarter of 2023. For the rest of the year, we anticipate the Malaysian cinema industry performance to remain resilient with the upcoming lineup of strong movie titles, which should contribute positively to the segment's performance in 2023.  However, the recent actors and writers’ strikes in Hollywood may potentially affect the filming of movies and cause delays to a number of blockbuster releases, we are cautiously optimistic about the performance of the segment in 2023.

We expect the Property segment to perform satisfactorily as the new development projects in Kedah and Penang are in their final planning stages. Improved malls occupancy and footfall are expected to drive segment revenue in 2023.

Wilmar's performance will continue to contribute substantially to the overall profitability of the Group.


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