KUALA LUMPUR: Sime Darby posted earnings of RM699mil in the third quarter ended March 31, 2017 which was capped by higher tax and perpetual sukuk expenses.
The conglomerate said on Wednesday the earnings were up 5.4% from the RM663mil a year ago.
Pre-tax profit rose 27.3% to RM1bil from RM791mil a year ago, boosted by improved contributions from the plantation, industrial and motors divisions.
Sime Darby's revenue rose 21.6% to RM12.44bil from RM10.23bil. Earnings per share were 10.3 sen versus 10.5 sen.
For the nine months ended March 31, 2017, its earnings jumped 40% to RM1.78bil from RM1.27bil in the previous corresponding period.
Pre-tax profit jumped 48.1% to RM2.557bil from RM1.727bil. Its revenue rose 8.2% to RM34.88bil from RM32.23bil.
Sime Darby president and group chief executive Tan Sri Mohd Bakke Salleh said the group’s year-to-date results for FY2017 were largely been supported by higher crude palm oil (CPO) prices.
CPO prices averaged at RM2,861 a tonne in the first nine months compared to RM2,113 in the same period last year.
“Stabilising coal prices as well as increased activity in the construction sector in China and Malaysia served as catalysts for the industrial division.
“Despite tightening regulations and rising import costs, we are encouraged by the motors division’s performance, driven by higher demand in key markets.”
On the company’s listing plans for its plantation and property divisions, Mohd Bakke said:
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