Revenue climbed 10% to RM1.51 billion from RM1.34 billion in Q1 FY2022, mainly attributed to the turnaround in its grains and agribusiness, and film exhibition and distribution segments.

PBB said in a filing with Bursa Malaysia that its grains and agribusiness segment revenue was higher by 11% to RM1.16 billion compared to RM1.04 billion in Q1 FY2022 due to the stable grains commodity market.

Meanwhile, the group’s film exhibition and distribution segment revenue doubled to RM128 million from RM64 million previously.

The segment, however, reported a marginal loss of RM25,000 compared to a RM30 million loss a year ago, on the back of a 113% and 96% increase in admissions and box office collections, respectively.

Its consumer products segment’s revenue and profit rose by 9% and 5% to RM199 million and RM7.3 million, respectively, due to higher sales of bakery and consumer products.

On the group’s prospects, PPB said it expects the grains and agribusiness segment to perform satisfactorily on the back of a stable grains commodity market, coupled with the company’s continuous effort to drive production and cost efficiency.

“The consumer products segment will continue to leverage its well established nationwide distribution network and integrated marketing system to enhance its operational efficiency in distributing a widely accepted range of necessities, while expanding its range of consumer products and widening its distribution base.

“The recovery of the film exhibition and distribution segment, in line with the ongoing improvement in consumer sentiment and the upcoming lineup of strong movie titles beginning in the second quarter, would contribute positively to the segment’s performance in 2023,” it said.