PETALING JAYA: Sime Darby Bhd reported a net profit of RM305 million for its second quarter ended Dec 31, 2024 (Q2’25), compared with RM2.3 billion in the corresponding quarter last financial year, which had benefitted from a gain of RM2 billion on the disposal of Ramsay Sime Darby Health Care.
Group revenue for the quarter increased by 14.2% to RM17.7 billion, compared with RM15.5 billion in the corresponding quarter of the previous financial year (Q2’24).
Core net profit for the quarter amounted to RM305 million, a 13.4% improvement compared with RM269 million in the corresponding quarter last year.
The group’s performance was mainly driven by the UMW division, which contributed RM272 million in profit before interest and tax (PBIT) due to higher sales of Perodua vehicles.
During the quarter under review, the industrial division recorded a PBIT of RM337 million, reflecting a marginal decrease of 4%. The division’s Australasia operations recorded lower profits mainly due to the impact of the reduction in parts prices as a result of the weaker Australian dollar versus the US dollar. Nevertheless, higher contributions from the Malaysia and Singapore operations helped soften the impact.
The motors division reported a reduced PBIT of RM118 million in Q2’25 due to lower vehicle sales in Malaysia and Australasia, offset by higher electric vehicle sales in Singapore.
For the first six months of FY 2025, the group’s net profit stood at RM1.1 billion, a 32.9% improvement from last year’s corresponding period in the absence of discontinued operations.
“While our results are still good compared to last year, the market is becoming increasingly challenging. Our operations in China continue to be impacted by intense competition resulting in lower margins. Our teams have been diligently working to improve aftersales revenue, to manage costs and to improve inventory turnover resulting in higher operating cash flows,” said Sime Darby Group CEO Datuk Jeffri Salim Davidson.
Reflecting its commitment to enhancing shareholder value, Sime Darby announced an interim dividend of 3 sen per share and a special dividend of 1 sen per share for the financial year ending June 30, 2025.
