PETALING JAYA: Sime Darby Bhd saw an increase of 69.4 per cent in net profit to RM542 million for the first half ended December 31 2018, from the RM320 million posted a year ago.
This was on the back of stronger contribution from the group's industrial division.
The division performed best with a jump of 53 per cent year-on-year (YoY) in core profit before interest and tax of RM348 million due to higher equipment deliveries in Australia and higher margins from engines and product support.
Group revenue increased 7.7 per cent to RM18.3 billion.
"Sime Darby’s performance in the first half of FY2019 was pretty solid due largely to our industrial division in Australia," said group CEO Datuk Jeffri Salim Davidson at its results briefing here today.
"Demand for our products and services from the mining and construction sector there have been strong,” he added.
Sime Darby announced a first interim dividend of two sen per share for the financial year ending June 30, 2019.