Sime Darby posts net profit of RM820m for FY2020

Group chief executive officer Datuk Jeffri Salim Davidson said: “The strong operating cash flow and relatively low gearing ratio of 0.26 times places the group in a good position to handle the uncertain times ahead.”

KUALA Lumpur: Sime Darby Bhd reported a net profit of RM820mil for the financial year ended June 30,2020 compared with RM948mil a year ago despite challenging market conditions due to the Covid-19 outbreak in the second half of FY20.

Sime Darby said on Thursday it recorded a 9.5% growth in net profit from underlying business operations (core net profit) of RM1.04bil for FY20, compared with RM950mil for FY19.