Kuala Lumpur

MALAYSIAN conglomerate Sime Darby, which is proposing to carve out its plantations and property units into separate standalone listed entities, registered a 126 per cent jump in net profit to RM644 million (S$203.5 million) for the second quarter to end- December, with the significant improvement in earnings coming largely from higher crude palm oil (CPO) prices and better production of fresh fruit bunches (FFB).

The conglomerate saw a rise in revenue to RM12.3 billion for the quarter from RM11.8 billion a year ago. For the half year, its profit amounted to slightly over RM1 billion (RM609 million) on a revenue of RM22.4 billion (RM22 billion). The board has proposed a dividend of six sen per share for the quarter.