Sime Darby Posts RM305 Mln 2Q Net Profit, Declares 4 Sen Dividend

KUALA LUMPUR, Feb 24 (Bernama) -- Sime Darby Bhd posted a net profit of RM305 million in the second quarter ended Dec 31, 2024 (2Q FY2025) compared to RM2.28 billion in 2Q FY2024.

The group said in a filing with Bursa Malaysia today that the higher net profit in 2Q FY2024 was due to the inclusion of the RM2 billion gain on the disposal of Ramsay Sime Darby Health Care.

Meanwhile, its revenue increased by 14.2 per cent to RM17.72 billion during the quarter from RM15.52 billion previously.

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Sime Darby declared an interim dividend of three sen per share and a special dividend of one sen per share for the financial year ending June 30, 2025.

Meanwhile, for the first half ended Dec 31, 2024 (1H FY2025), net profit declined to RM1.10 billion, from RM2.87 billion previously, but the revenue widened to RM35.99 billion from RM29.50 billion.

In a separate statement, group chief executive officer Datuk Jeffri Salim Davidson said while Sime Darby’s results are still good compared to last year, the market is becoming increasingly challenging.

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“Our operations in China continue to be impacted by intense competition resulting in lower margins.

“Sime Darby teams have been diligently working to improve aftersales revenue, to manage costs and to improve inventory turnover resulting in higher operating cash flows,” he said.

On prospects, the group expects the core financial performance for the year ending June 30, 2025 to be about the same level as the previous year, despite the challenges in the motor industry.

-- BERNAMA