04/01/2013 (Bernama) - PPB Group Bhd's share prices rose 2.5 per cent, or 30 sen, to RM12.30 as at 12.01 pm today, boosted by expectations of better current financial year results by research houses.

About 439,400 shares changed hands.

PPB's recent earnings, which had been dragged down by its associate Wilmar, were expected to improve for the financial year 2013 (FY13), said Kenanga Research in its research note here.

"The estimated earnings growth for FY13 will be supported by an expected return to profitability at Wilmar's Oilseeds and Grains division and a better prospect at Wilmar's palm oil downstream business due to its 50 per cent capacity expansion in Indonesia in the second half of 2012," it said.

The research house said that in the near term, the share prices' downside should be supported by its book value of RM11.75 as at third quarter 2012.

Kenanga Research has set a target price of RM14.38.