Sime Darby posts RM1.1b net profit in FY2022 amid challenging market conditions

KUALA LUMPUR, Aug 17 — Sime Darby Bhd registered a lower net profit of RM1.10 billion for the financial year ended June 30, 2022 versus RM1.43 billion a year earlier which included a one-off gain of RM272 million on the the divestment of the group's stake in Tesco Malaysia.

Sime Darby declared a second interim dividend of 7.5 sen per share for Q4 FY2022, bringing the total dividend pay-out for FY2022 to 11.5 sen a share, or RM783 million, representing a pay-out of 71 per cent of net profit. For the industrial division, the strong commodity prices drove equipment demand in its key market of Australia. However, higher overhead costs ate into margins.

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