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Sime Darby’s pre-tax profit rises to RM921 mln in Q2

Sime Darby president and group chief executive Tan Sri Mohd Bakke Salleh

Sime Darby president and group chief executive Tan Sri Mohd Bakke Salleh

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Feb 27 2017 : Sime Darby Bhd’s pre-tax profit rose to RM921 million in the second quarter ended Dec 31, 2016 from the RM475 million registered in the same quarter of last year.

Revenue increased to RM12.34 billion from RM11.83 billion.

President and Group Chief Executive Tan Sri Mohd Bakke Salleh in a filing to Bursa Malaysia said the significant improvement in group’s earnings could be largely attributed to an increase in crude palm oil (CPO) prices and better production of fresh fruit bunches (FFB) over the period under review.

For the half year ended Dec 31, 2016 (1H FY2017), the Group recorded a pre-tax profit of RM1.6 billion and net profit of RM1.1 billion.

The group’s pre-tax profit and net profit for the 1H FY2017 improved by 66 per cent and 79 per cent respectively, against the previous corresponding first six months.

The plantation division’s pre-tax profit increased almost four-fold to RM568 million in the 2Q FY2017 from RM159 million in the corresponding period of 2016, mainly due to higher average CPO price realised, and better FFB production in the current period, especially in Indonesia and Papua New Guinea.

The group announced an interim dividend of 6.0 sen per share for the financial year ending June 30, 2017. – Bernama

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