Sime Darby Q1 profit up 2.4% at RM500.7m

Kuala Lumpur

DESPITE a nearly 9 per cent fall in the price of crude palm oil between July and September, Malaysian multinational Sime Darby has reported a 2.4 per cent rise in earnings for the period, boosted by productivity gains at its plantation division and robust sales at its motor and property businesses.

In a filing with the Kuala Lumpur stock exchange on Friday, the world's largest listed producer of palm oil said its earnings for the first quarter of its 2015 financial year clocked in at RM500.7 million (S$194 million), up from RM489 million for the same period last year.