KUALA LUMPUR, Aug 24 — Sime Darby Bhd’s net profit jumped 32.2 per cent to RM1.46 billion for the financial year ended June 30, 2023 (FY2023) from RM1.1 billion in the same...
KUALA LUMPUR, Aug 24 — Sime Darby Bhd’s net profit jumped 32.2 per cent to RM1.46 billion for the financial year ended June 30, 2023 from RM1.1 billion in the same period last year.
For the fourth quarter ended June 30, 2023 , the group’s net profit was 124 per cent higher at RM622 million, while revenue for the quarter under review rose 22.4 per cent to RM13.3 billion, compared with RM10.9 billion in 4Q FY2022. Group chief executive officer Datuk Jeffri Salim Davidson said the group’s strong performance was driven by its strategy amidst a challenging market environment.
On its motors segment, Jeffri said Sime Darby announced the acquisition of a 61.2 per cent stake in UMW Holdings Bhd today, which is a game-changing deal for the company as it would give the group full presence across the automotive spectrum, with the addition of two much coveted mass volume brands — Perodua and Toyota — into its motors portfolio.
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