Sime Darby president and group chief executive Tan Sri Mohd Bakke Salleh said:
KUALA LUMPUR: Sime Darby Bhd
posted a pre-tax profit of RM471.0mil and a net profit of RM328.39mi for the first quarter ended Sept 30, 2015, down 30% and 34% from a year ago.
The plantations-property conglomerate said on Thursday its earnings were adversely impacted by weak commodity prices and volatile market conditions in the period under review.
The plantation division achieved an improvement in overall crude palm oil (CPO) production and sales volume, with both increasing by 18%, boosted by contributions from NBPOL.
Sime Darby’s president and group chief executive Tan Sri Mohd Bakke Salleh said: “The group’s financial results for the period under review reflects the difficult market environment faced across the divisions.
“Weaker demand in consumer businesses and persistently low CPO and coal prices have impacted profitability. We will consistently deploy our capital and resources in line with our long-term strategy for each of the business activities.
“The group remains committed to managing its cost base and accelerating strategic initiatives to improve operating margins and capitalise on market opportunities. We remain confident that the Group will be able to weather the downturn.”
Limited time offer:
Just RM5 per month.
