KUALA LUMPUR: Sime Darby Bhd posted a lower pre-tax profit of RM934.74 million in its third quarter ended March 31, 2013 from RM1.18 billion in the same period last year.

Lower pre-tax profit was due to lower profit contributions from plantation, industrial and energy and utilities divisions. However, the lower contributions were offsetted by stronger performances in the motors, property and healthcare divisions.

Revenue also eased slightly to RM10.84 billion in the quarter compared to RM10.94 billion in the same quarter last year. Earnings per share reduced to 11.5 sen from 14.58 sen.

For the nine months ended March 31, 2013, Sime Darby posted a pre-tax profit of RM3.2 billion and a net profit of RM2.4 billion. The group's pre-tax profit and net profit for the period fell by 24% and 22%, respectively, compared to the corresponding period in the previous financial year.

"The group has undergone a challenging nine months given the lower commodity prices and economic slowdown in the markets that we operate," said President and Group Chief Executive Datuk Mohd Bakke Salleh in a statement today.

Despite the headwinds, he said, each division has established a strong platform for continuous improvements in operational efficiency.

Sustained improvements in the plantation division's fresh fruit bunch yield and oil extraction rate were among the significant achievements made, he said.

"The group is continuously seeking out growth opportunities to ensure the delivery of the desired value proposition to all our stakeholders," said Mohd Bakke.

As of May 2013, Sime Darby has a market capitalisation of RM57 billion in Bursa Malaysia.

The group expects its operations in its existing markets to continue to be challenging but optimistic that a gradual recovery in the global economy will materialise in view of the positive indicators from major economies.

"Despite the lacklustre commodity prices, the group's core businesses are expected to remain resilient due to our vertically integrated model in the plantation division as well as the inherent strengths of the group's diversified portfolio of business in the Asia-Pacific region," Mohd Bakke added. - Bernama