PETALING JAYA: Sime Darby Bhd reported full-year net profit of RM3.3 billion for the financial year ended June 30, 2024 (FY24), more than double that reported in the previous financial year (FY23).
This was largely due to a RM2 billion gain from the disposal of Ramsay Sime Darby Health Care (RSDH) in December 2023.
Excluding one-off items, the group reported a core net profit of RM1.3 billion in FY24, a 14% improvement from FY23, largely a result of higher profit from the group’s Industrial business in Australia, the strong performance from the motor businesses in Malaysia, Singapore and Taiwan, as well as maiden profit contribution from the UMW division.
Group revenue rose by 39% to RM67.1 billion in FY24, compared with RM48.3 billion in FY23.
“It was a very busy year for the group in terms of acquisitions. We successfully completed the acquisitions of Cavpower and UMW. And we also concluded the sale of RSDH during the year, marking a full exit for the healthcare segment and to enable the group to fully focus on growing our core businesses of Motors and Industrial,” said group CEO Datuk Jeffri Salim Davidson.
For the fourth quarter ended June 30, 2024 (Q4’24), net profit was recorded at RM89 million. Revenue for the quarter improved by 41.4% to RM18.8 billion, compared with RM13.3 billion in Q4’23.
Profit before interest and tax for the Industrial division grew by 6.4% to RM399 million, thanks mainly to profit contributions from Australia and Southeast Asia. This helped cushion the impact of a softer performance in China and New Zealand.
Sime Darby declared a second interim dividend of 10 sen per share for Q4’24. This brings the total dividend payout for FY24 to 13 sen a share or RM886 million.
