KUALA LUMPUR: Sime Darby Bhd's net profit rose 41.7 per cent to RM340 million in the third quarter (Q3) ended March 31, 2024 from RM240 million a year earlier backed by higher sales and income from newly acquired businesses.
In its filing with Bursa Malaysia Securities Bhd today, Sime Darby said its revenue for the quarter surged 63.4 per cent to RM18.84 billion in Q3 2024 from RM11.53 billion, previously.
For the nine-month period ended March 31, 2024 (9MFY24), Sime Darby posted a net profit of RM3.22 billion as compared to RM836 million in the year-ago period, largely attributed to the RM2 billion gain on disposal of Ramsay Sime Darby Health Care.
The company's revenue in 9MFY24 rose to RM48.34 billion from RM35 billion in 9MFY23.
Group chief executive officer Datuk Jeffri Salim Davidson said Sime Darby ended the quarter on a high note, with the industrial division continuing to be the keydriver, leveraging strong prospects in the mining sector particularly in Australasia.
"This goes to show that the mining business in Australia is still very strong and continues to be profitable," said Jeffri.
He added that the quarter also marked the UMW division's first full quarter contribution to the group.
Moving forward, Jeffri said the integration of UMW into Sime Darby will remain a key priority.
"Our strong performance is a testament to the hard work and collaborative spirit of our teams across the Industrial, Motors and UMW divisions. With their continued dedication, we are well-positioned to unlock new growth opportunities and deliver sustained value for our stakeholders," he added.
