Sime Darby earnings impacted by China industrial slowdown in Q1FY22

KUALA LUMPUR: Sime Darby Bhd's net profit for the first quarter of its financial year ending June 30, 2022, dipped 16.01% to RM236mil from RM281mil in the previous corresponding quarter due to the impact of a slowdown in China's construction activities on its industrial division.

Revenue in the quarter was 1.9% lower at RM10.67bil, compared with RM10.88bil in the same quarter in 2020.