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Sime Q2 Pre-tax Profit Falls To RM1 Billion
Revenue fell to RM10.88 billion from RM11.25 billion in 2012, it said in a filing to Bursa Malaysia Friday.
Sime said for the first six months, its pre-tax profit declined to RM1.72 billion from RM2.29 billion in the same period of 2012.
Revenue fell to RM21.64 billion from RM22.99 billion previously.
Its President/Group Chief Executive, Tan Sri Mohd Bakke Salleh, said the group has undergone a challenging six months as the global economic and business environment continued to be volatile.
"After a tough start to the financial year, I am pleased to note that crude palm oil prices have improved from the previous quarter and the group has seen continuous improvements in operational efficiencies," he said.
Bakke said Sime would continue to maintain a disciplined approach to capital allocation and cash flow management while focusing on efforts to strengthen its capabilities and attain leadership positions in its core businesses.
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