KUALA LUMPUR: Sime Darby Bhd reported a net profit from continuing operations of RM1.29 billion for the nine months ended March 31 2025, up 9.9 per cent from RM1.17 billion in the previous corresponding period.
The was mainly attributable to the higher contribution from the UMW division and a higher one-off gain on disposal of Malaysia Vision Valley land, despite lower profits from the industrial and motors divisions.
The group's revenue for the nine months increased 8.2 per cent to RM52.3 billion from RM48.3 billion in the previous financial year.
For the third quarter (Q3), Sime's net profit fell 43.2 per cent to RM193 million from RM340 million a year ago, due to lower earnings from all its core divisions.
- Its revenue fell to RM16.31 billion from RM18.84 billion previously, the group's filing to Bursa Malaysia showed.
- As a result, the group registered lower earnings per share of 2.80 sen compared to 5.00 sen in Q3.
- The group's industrial division profits fell 38.4 per cent to RM221 million during the quarter, mainly due to lower profits from Australasia.
Profit from Australasia was impacted by a currency-related parts price adjustment, unfavourable weather conditions and a weaker Australian dollar against the ringgit.
Its motors division profits dropped 36.7 per cent to RM114 million mainly due to lower revenue and core profit from several markets, particularly Malaysia, Hong Kong and New Zealand.
The group said these markets had been impacted by weaker demand and fierce competition.
UMW Holdings Bhd's profit fell 26 per cent to RM194 million mainly due to losses at the lubricants business.
Sime group chief executive officer Datuk Jeffri Salim Davidson said the group continued to face external headwinds, particularly in the motors division with ongoing economic uncertainty and the rise of Chinese automotive brands increasingly dominating the market.
He added that the consumer segment remains challenging amid the continuing price war and industry overproduction in China.
"For the UMW division, Toyota and Perodua continue to perform well in Malaysia.