Stronger earnings for Sime Plantation, declares 7.9 sen dividend

Sime Darby Plantation in Sg Buloh. With the continued impact of labour shortages on Malaysia’s CPO production as well as tight global vegetable oil inventory levels, the group expects prices to remain firm.

KUALA LUMPUR: Sime Darby Plantation Bhd posted stronger earnings in the second quarter ended June 30, 2021 at RM617mil due to higher realised crude palm oil (CPO) and palm kernel (PK) prices, as well as an increase in fresh fruit bunch (FFB) production.

In a statement on Wednesday, it said net profit increased by 63% from RM378mil a year ago. Net profit increased by 9.8% from the RM562mil in the first quarter.