Sime Darby Q3 net profit rises to RM222m

In a filing with Bursa Malaysia, Sime Darby said the better results achieved were largely driven by the industrial division’s strong performance. — Picture courtesy of Sime Darby
In a filing with Bursa Malaysia, Sime Darby said the better results achieved were largely driven by the industrial division’s strong performance. — Picture courtesy of Sime Darby

KUALA LUMPUR, May 29 — Sime Darby Bhd’s net profit for the third quarter ended March 31, 2019 (Q3) increased 64.4 per cent to RM222 million from RM135 million in the corresponding period a year ago.

Revenue rose 3.3 per cent to RM8.56 billion from RM8.29 billion previously.

In a filing with Bursa Malaysia, Sime Darby said the better results achieved were largely driven by the industrial division’s strong performance.

For the first nine months of its financial year ended June 30, 2019 (9M FY19), the group’s continuing operations posted a 67.9 per cent increase in net profit to RM764 million from RM455 million in the same period in FY18.

This, it said, was substantially due to the strong performance of the industrial division’s Australasian operations.

Revenue for 9M FY19 stood at RM26.8 billion, representing a 6.3 per cent increase year-on-year.

On prospects, Sime Darby said notwithstanding geopolitical and macroeconomic challenges and any unforeseen circumstances, the group’s performance in FY19 was expected to be better than the previous financial year. — Bernama

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