,Commenting on the motors division, Sime Darby group CEO Datuk Jeffri Salim Davidson said it was exceptional as demand for BMWs and its super-luxury marques have been extremely strong, especially in China.
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KUALA LUMPUR: Sime Darby Bhd’s motor division’s exceptional performance in most markets underpinned its stellar performance as it posted a new high in revenue of RM44.48bil in the financial year ended June 30, 2021.
In a statement on Wednesday, it reported a 73.8% jump in net profit to RM1.42bil from RM820mil a year ago due to higher profits achieved on the back of the 20% increase in revenue from RM36.93bil in FY20.
“These robust results were mainly due to the Motors division’s exceptional performance in most markets, particularly in China,” it said.
Net profit for the fourth quarter ended June 30, 2021 (4Q FY21) rose by 19% to RM211mil from a year ago, on the back of an almost 29% increase in revenue to RM11.34bil. Earnings per share were 3.1 sen compared with 2.6 sen a year ago.
Sime Darby declared a second interim dividend of eight sen per share and special dividend of one sen per share for 4Q21. This brings the total dividend payout for FY2021 to 15 sen a share, representing a payout of RM1.02 billion or more than 70% of net profit.
The dividends are proposed to be payable on Sept 30, 2021.
Sime Darby group CEO Datuk Jeffri Salim Davidson said: “We are very pleased with these results. Our profits have grown from RM618mil in FY2018, the first year after the de-merger, to just over RM1.4bil this year.
“We have essentially doubled our earnings over the past four years. This is the result of the successful execution of our five-year value creation plan developed just after the de-merger.
“It is also a testament to our very capable management team and our geographical footprint. Of course, the relatively strong demand for our products and services, despite the disruptions caused by the Covid-19 pandemic these two years have contributed to this performance.”
“I am proud to say that Sime Darby is a true Malaysian multinational, with a footprint across the Asia Pacific region. Today, our operations outside Malaysia account for more than 85% of our core profits,” he added.
Commenting on the motors division, he said it was exceptional as demand for BMWs and its super-luxury marques have been extremely strong, especially in China.
“With the travel restrictions, many of our customers are unable to travel and are spending their excess cash on luxury items domestically,” Jeffri said.
However, the industrial division had a slightly tougher year, he added. Whilst demand from its mining customers in Australia remains resilient, there was a softening of the market and extremely intense competition in China.