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Sime On Track To Achieve KPI Of RM2.80 Billion Net Profit
He said the group has registered RM1.30 billion net profit for the first half of the company's financial year and was working hard to achieve the target in four months.
"The plantation segment, which has been the main contributor of about 50 per cent of the company's net profit, is expected to improve further, with the increase in the average price of crude palm oil (CPO) in the second quarter this year," he told a media briefing on the company's second-quarter results here today.
Bakke said the CPO prices had increased since the beginning of the year.
For the company's second quarter ended June 30, 2014, the average price of the CPO was expected to be at RM2,416 per tonne compared with RM2,207 per tonne in the same quarter last year, he said.
"The higher the price the better it is for us. However, we still have to look into the dynamism of the business and natural surrounding plus weather as our businesses would thrive based on these factors," he said.
Moving forward, he said, the company would remain resolute in their focus on improving operational efficiencies across the group and to ensure each division addresses its challenges.
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