Sime Darby announced better-than-expected quarterly earnings, driven by robust performance in its industrial and automotive divisions. The positive results led to a 0.8% increase in its share price, signaling investor confidence in its diversified business model.
Diversified conglomerate Sime Darby Bhd reported impressive fourth-quarter results, with net profit surging 15% year-on-year to RM320 million. This strong performance was primarily driven by the expansion of its industrial division, particularly robust heavy equipment sales in Australia and China, alongside steady growth in its automotive division across Southeast Asian markets. The company also declared a dividend of RM0.05 per share. Boosted by the news, Sime Darby's share price rose 0.8% to RM2.75 in Friday's trading. Management expressed confidence in the resilience of its diversified business model despite global economic headwinds and expects to maintain growth momentum in the coming year.
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