Profits up 34% for world’s largest oil palm planter

February 25, 2018 |

In Malaysia, Sime Darby Plantation, the world’s largest oil palm planter by land holdings, reported that its second-quarter net profit increased 34% compared to a year ago, thanks in part to higher earnings from Upstream Malaysia and reduced finance costs as a result of lower borrowings. They also reported a profit before tax increase of 35% against the same period in the last financial year.

“We are very encouraged by the Group’s performance following its listing exercise back in November 2017. Our Upstream operations have been strategically geared towards achieving our initiatives to enhance productivity, profitability and cost efficiency. Accelerated replanting efforts, mechanisation and water management initiatives across our operations are well underway and have shown positive results,” said Tan Sri Dato’ Seri Mohd Bakke Salleh, SD Plantation’s Executive Deputy Chairman and Managing Director.

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Category: Fuels

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