Sime Darby Berhad reported a higher net profit of RM800 million for its first quarter ended 30 September 2024 (Q1 FY2025). The Group's revenue rose by 30.6 per cent to RM18.26 billion, compared with RM13.98 billion in the corresponding quarter of the previous financial year (Q1 FY2024).

This performance was mainly driven by profit contribution from the UMW division and gain on the disposal of Malaysia Vision Valley (MVV) land. The Group's core net profit for the quarter also increased, with the UMW division contributing RM214 million in profit before interest and tax (PBIT), primarily from its automotive business in Malaysia.

For the quarter under review, the Industrial division recorded a PBIT of RM343 million, reflecting a marginal decrease of 4.2 per cent. While Australasia recorded lower profits mainly due to the impact of a parts price reduction, this was partially offset by contributions from the Group's two new subsidiaries, Onsite Rental Group and Cavpower Group.

The Motors division reported an overall PBIT of RM190 million in Q1 FY2025, slightly lower by 6.4 per cent compared to the same period last year. Strong electric vehicle (EV) sales in Singapore helped offset challenges in other markets.