Kuala Lumpur: Sime Darby Bhd reported a net profit of RM305 million for the second quarter ending December 31, 2024 (2Q FY2025), in contrast to RM2.28 billion recorded in the same quarter last year.

According to BERNAMA News Agency, the notable net profit in 2Q FY2024 was attributed to a RM2 billion gain from the disposal of Ramsay Sime Darby Health Care. In the latest quarter, the company’s revenue rose by 14.2 percent, reaching RM17.72 billion, up from RM15.52 billion in the corresponding period of the previous year.

The company declared an interim dividend of three sen per share, along with a special dividend of one sen per share for the financial year ending June 30, 2025. For the first half of FY2025, ending December 31, 2024, Sime Darby’s net profit fell to RM1.10 billion compared to RM2.87 billion previously, although revenue increased to RM35.99 billion from RM29.50 billion.

In a separate statement, Group Chief Executive Officer Datuk Jeffri Salim Davidson commented on the company’s performance. He noted that the results remain favorable when compared to the previous year, despite the increasingly challenging market environment. The operations in China, in particular, face significant competition, leading to reduced margins.

Davidson highlighted the efforts by Sime Darby teams to enhance aftersales revenue, control costs, and improve inventory turnover, which have resulted in higher operating cash flows. Looking forward, the group anticipates that its core financial performance for the year ending June 30, 2025, will align with the previous year’s results, despite ongoing challenges in the motor industry.