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Sime Darby fiscal Q1 profit climbs 11.2% YOY

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Sime Darby fiscal Q1 profit climbs 11.2% YOY

Sime Darby said its normalized net income for the fiscal first quarter ended Sept. 30 came to 3 Malaysian sen per share, a gain from 3 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 188.0 million ringgits, a gain of 11.2% from 169.0 million ringgits in the year-earlier period.

The normalized profit margin dropped to 2.3% from 2.4% in the year-earlier period.

Total revenue climbed 17.5% year over year to 8.14 billion ringgits from 6.93 billion ringgits, and total operating expenses rose 18.7% from the prior-year period to 8.03 billion ringgits from 6.76 billion ringgits.

Reported net income decreased year over year to 197.0 million ringgits, or 3 sen per share, from 203.0 million ringgits, or 3 sen per share.

As of Nov. 16, US$1 was equivalent to 4.17 ringgits.