Friday, August 28, 2009
Sime Darby's pre-tax profit halved
SIME Darby Bhd's pre-tax profit for the fourth quarter ended June 30, 2009 fell to RM1.108 billion from RM1.454 billion in the corresponding period of 2008.
According to bernama, Sime Darby's revenue decreased to RM7.535 billion from RM9.121 billion previously.
For the financial year ended June 30, 2009, Sime Darby said its pre-tax profit dropped 41 per cent to RM3.071 billion from RM5.206 billion as revenue fell nine percent to RM31.014 billion from RM34.045 billion.
Sime Darby said its net profit of RM2.3 billion after tax and minority interest, exceeded by 20 per cent the group's Key Performance Indicator (KPI) of RM1.9 billion.
The group recorded a Return on Average Shareholders' Funds of 10.6 per cent versus its KPI of 8.8 per cent.
As for the Plantation Division, it registered a 56 percent decline in operating profit to RM1.7 billion compared with the previous year.
This was principally driven by lower average CPO prices in the year as well as lower production as a result of biological tree stress and unfavourable weather conditions, it said.