Press Releases

FINANCIAL HIGHLIGHTS OF FY2024

• PPB Group revenue decreased by 6% to RM5.39 billion in FY2024 (FY2023 : RM5.72 billion).
• Group pre-tax profit of RM1.33 billion was 10% lower than FY2023 of RM1.49 billion, mainly attributable to the lower contribution from our 18.8% associate, Wilmar International Limited (Wilmar) which contributed RM992 million for FY2024 (FY2023 : RM1.30 billion), down 24%.  Excluding the one-off divestment gain on Yihai Kerry (Shenyang) Oils, Grains & Foodstuffs Industries Co. Ltd (YKS) amounting to RM12.6 million (FY2023 : One-off divestment gains net of provision of MyCC penalty, amounting to RM13 million, collectively known as “one-off net gains”), the Group’s core business segments recorded a higher profit of RM328 million in FY2024 (FY2023: RM176 million), up 86%.
• Profit after tax for FY2024 was RM1.24 billion and earnings per share was 85.72 sen.

PROPOSED FINAL DIVIDEND OF 30 SEN PER SHARE

PPB’s Board has recommended a final dividend of 30 sen per share for FY2024, subject to approval by PPB shareholders at the 56th Annual General Meeting to be held on 15 May 2025. The final dividend is payable on 5 June 2025 to shareholders whose names appear in the Record of Depositors on 20 May 2025.

Together with the interim dividend of 12 sen per share, the total dividends paid and payable for FY2024 would be 42 sen per share (FY2023 : 42 sen per share).

REVIEW OF OPERATIONS

The results of PPB’s business operations for 2024 are summarised as follows :-

• Revenue from the Grains and Agribusiness segment was 7% lower at RM3.95 billion (FY2023 : RM4.26 billion).  Excluding contribution from the divested Indonesia flour operations, segment revenue for FY2024 increased by 4%, mainly contributed by the good performance at the feed and maize sub-segments.  This segment recorded higher profit by 40% to RM321 million for FY2024 (FY2023 : RM230 million).  Excluding the effects of the one-off net gains as mentioned above, this segment recorded a profit of RM310 million, up 29%, mainly attributable to the contribution of the flour and feed sub-segments.
• Consumer Products segment revenue increased by 3% to RM784 million (FY2023 : RM761 million). Segment profit for FY2024 was lower by 75% at RM6.5 million (FY2023 : RM26 million) mainly attributable to higher operating costs and trade promotion expenses.
• Revenue from Film Exhibition and Distribution segment improved by 3% to RM587 million (FY2023 : RM570 million). For FY2024, this segment turned around with a profit of RM3.7 million (FY2023 : RM120 million loss) mainly attributable to lower cinema operating costs and the absence of impairments of the Vietnam and Malaysia cinema assets of RM113 million recorded in 2023. 
• Property segment registered lower revenue of RM52 million (FY2023 : RM117 million) and lower profit at RM12 million (FY2023 : RM17 million), due to the absence of revenue and profit contribution from the sale of completed Megah Rise residential units in FY2023, partially offset by improved mall performance.

PROSPECTS FOR 2025

Despite ongoing challenges in the global grain market, including adverse weather conditions in key grain-producing regions, evolving government policies, shifting trade dynamics and economic pressures, the Grain and Agribusiness segment remains confident in its ability to navigate and manage these complexities. By leveraging our expertise in grain sourcing and technical know-how, we will continue to deliver high-quality products to our customers. We expect performance of the segment to be satisfactory in 2025.

The Consumer Products segment will continue to expand its product range and strengthen its market presence to enhance distribution efficiency amid rising operating costs. With a well-established distribution network, robust logistics infrastructure, and resilient household spending in Malaysia, we expect the segment to deliver satisfactory performance in 2025.

The Film Exhibition and Distribution segment recorded a narrow loss in the fourth quarter, as box office performance continued its upward trend, signalling steady recovery in movie-going interest. With an anticipated stronger lineup of movie releases in 2025, the cinema industry is expected to continue its recovery. Supported by ongoing operational efficiency initiatives, including cost optimisation efforts and enhanced customer experiences, we expect to deliver improved results in 2025.

In December 2024, the Property segment launched the Lumina Bedong, a township development in Kedah, with Phase 1 comprising 125 freehold single-storey linked houses. While other development projects are in various planning stages, enhancing mall performance remains as key priority for 2025. 

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

5 March 2025

 

Contact :-
Ms Susan Chia, Senior Manager, Sustainability & Corporate Affairs of PPB Group Berhad
Telephone : 03-27260088
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.