Published: Wednesday May 30, 2012 MYT 1:21:00 PM
Sime Darby's Q3 earnings up 6.8% to RM876m on-year
By Joseph Chin
KUALA LUMPUR: Sime Darby Bhd's earnings rose 6.8% to RM876mil in the third quarter ended March 31, 2012 (Q3, FY12) from RM820.12mil a year ago.
It reported on Wednesday its revenue increased 8.8% to RM11.027bil from RM10.13bil. Earnings per share were 14.58 sen compared with 13.65 sen.
Sime Darby said the group's profit before tax of RM1.192bil for Q3, FY12 fell 26.6% when compared with the preceding quarter.
"This was largely due to the performance of Plantation which fell by 37.5% as a result of the lower than expected fresh fruit bunches (FFB) production in the quarter. Correspondingly, net earnings of the group fell by 20.5% to RM876mil," it said.
For the nine-month period, its earnings rose 30% to RM3.051bil from RM2.352bil following commendable results from the plantation, industrial and property divisions. Revenue increased by 16.2% to Rm33.48bil from Rm28.80bil.
Sime Darby president and group CEO, Datuk Mohd Bakke Salleh said: "These excellent results reinforce our confidence that Sime Darby is on track not only to achieve the targets set in our strategy blueprint but also to exceed the group's net profit KPI of RM3.3bil for FY2011/2012."