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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
Carrier AirAsia discloses new listing plans under RM6.8 billion units merger
Intel slides after tepid forecast spurs fears about comeback
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum