March 5, 2007

Malaysia's PPB Group earns US$160.1 million profit in 2006
 

PPB GROUP BHD controlled by tycoon Tan Sri Robert Kuok, has booked record net profit of 561 million Malaysian Ringgit (US$160.1 million) in the 2006 financial year, up 42 percent from the previous year on the back of higher output and selling prices of crude palm oil (CPO).

Group revenue rose 8 percent to RM11.52 billion from RM10.69 billion in the previous year, it said in a filing to Bursa Malaysia.

PPB said the grains trading, flour and feed milling division recorded higher profits mainly due to increased sales.

The company's edible oils division also registered higher profits due to better refining margins.