Press Releases

FINANCIAL HIGHLIGHTS OF FY2022

• PPB Group revenue increased by 29% to RM6.26 billion in FY2022 (FY2021 : RM4.86 billion). All core segments recorded higher revenue.
• Group unaudited pre-tax profit of RM2.25 billion was 50% higher than the RM1.50 billion in FY2021 mainly due to higher profit contribution from its 18.8% associate, Wilmar International Limited (Wilmar) which contributed RM2.10 billion for FY2022 (FY2021 : RM1.50 billion), up 40%.
• Profit after tax for FY2022 was RM2.22 billion and earnings per share was 154.43                                    

PROPOSED FINAL DIVIDEND OF 28 SEN PER SHARE

PPB’s Board has recommended a final dividend of 28 sen per share for FY2022 subject to shareholders’ approval at the 54th Annual General Meeting to be held on 17 May 2023.  The final dividend is payable on 8 June 2023 to shareholders whose names appear in the Record of Depositors on 19 May 2023. 

Together with the interim dividend of 12 sen per share, the total dividend paid and payable for FY2022 would be 40 sen per share (FY2021 : 35 sen per share).

REVIEW OF OPERATIONS

The results of PPB’s business operations for 2022 are summarised as follows :-

• Revenue from the Grains and agribusiness segment was 26% higher at RM4.66 billion (FY2021 : RM3.69 billion). This segment recorded a profit at RM74 million (FY2021 : RM62 million), up 21% largely due to a more stable grain community market.
• Consumer products segment revenue increased by 17% to RM751 million (FY2021 : RM644 million). Segment profit for FY2022 was at RM34 million (FY2021 : RM7 million) mainly attributable to higher sales of bakery and other fast-moving consumer products.
• Revenue for the Film Exhibition and Distribution segment increased significantly to RM515 million (FY2021 : RM116 million) whilst segment losses reduced to RM17 million for FY2022 (FY2021 : RM113 million loss). Excluding the impairment on investment in an associate in Vietnam amounting to RM27 million, the segment made a profit of RM10 million for FY2022.  A five-fold increase in admissions and box office collections were the main contributing factors for the return to profitability of the Malaysian operations of this segment.
• The Property segment recorded revenue and profit of RM141 million (FY2021 : RM114 million) and RM35 million FY2022 (FY2021 : RM15 million) respectively mainly attributable to new sales and progressive profit recognition from the completed Megah Rise residential project as well as improvement in overall mall business performance.

PROSPECTS FOR 2023

Performance of the Grains and agribusiness segment improved as grain commodity prices stabilised, particularly in the second half of 2022.  PPB expects grain commodity prices to remain volatile given the uncertain weather conditions in the major grains-growing countries and on-going Russian-Ukraine war. To navigate the challenges ahead, the segment will continue to leverage on its market intelligence to drive procurement and operational efficiencies.  The segment is expected to deliver a satisfactory performance in 2023.

The Consumer products segment has performed well in 2022 and is expected to improve amid recovery of consumer spending. The segment will continue to improve operational efficiencies through its integrated marketing system and established nationwide distribution network in distributing a widely-accepted range of necessities, and in expanding its range of consumer products.

The Malaysian operations of the Film exhibition and distribution segment closed on a positive note in the fourth quarter of 2022, attributable mainly to better performance of several major blockbusters during the holiday season.  For 2023, PPB expects performance of the segment to improve further with the release of more tent pole movies, and support from positive consumer sentiment and confidence.

The Property segment will continue to focus on planned development projects in Kedah and Penang, as well as enhancing its malls performance and the segment is expected to perform satisfactorily.

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