KUALA LUMPUR: Sime Darby Bhd recorded a net profit of RM115 mill in the third quarter ended March 31, 2020, down 48.2% from RM222 mil recorded in the same period a year ago.
Revenue slipped to RM8.43 bil versus RM8.56 bil previously, while basic earnings per share dropped to 1.7 sen from 3.3 sen before.
On prospects in the final quarter of its financial year ending June 30, 2020 (FY20), Sime Darby expects the group’s business to be adversely affected by the coronavirus outbreak.
“Movement control laws and closure of certain operations in several countries such as Malaysia, Singapore and New Zealand have significantly impacted sales. In China, the operations have reopened after the extended Chinese New Year break but infection prevention and control measures remain.
“The mining-related operations in Australia continue to operate as it is considered an essential business. However, consumer and business sentiment have also been adversely impacted in these countries,” it added.
The group felt its strong financial performance in the first half of FY20 would help mitigate the effects of the adverse impact of the coronavirus outbreak.
At the lunch break, Sime Darby shares declined 0.5% to RM2. – May 21, 2020, Bernama
