Sime Darby Net Profit Down 53.4% in 4th Quarter

By Yantoultra Ngui Features Dow Jones Newswires

KUALA LUMPUR, Malaysia--Malaysia's Sime Darby Bhd. (4197.KU) said Friday its fourth-quarter net profit dropped 53.4% to 571 million ringgit ($133.52 million) from MYR1.23 billion a year earlier.

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Sime Darby, the world's largest palm oil producer by land size, said the weaker results came on the back of year-over-year declines in profit before interest and tax at its plantations, property and logistics businesses in the quarter ended in June. In its statement, the company also cited a loss before interest and tax at its industrial business.

Revenue rose 6.1% to MYR8.2 billion from MYR7.73 billion a year ago, according to the filing.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

August 25, 2017 02:22 ET (06:22 GMT)