Sime Darby's Q1 profit up 37% on motor unit's strength

Kuala Lumpur

MALAYSIAN conglomerate Sime Darby Berhad reported a 37 per cent rise in first-quarter net profit as higher sales of vehicles at home and in Singapore boosted its motor unit and helped offset sluggishness in its plantation business.

Sime Darby, the world's largest palm oil planter by land size, posted a profit of RM443 million (S$142 million) for the quarter ended Sept 30, compared to RM323 million in the year-ago quarter.