For the nine-month period to Sept 30, the group recorded a net profit of RM1.93 billion, representing an 8% year-on-year (y-o-y) increase, SDP said in a statement today.

The production of fresh fruit bunches (FFB) rose 21% in Indonesia and 1% in Papua New Guinea but this was negated by a 27% decline in production in Malaysia in Q3 2022, resulting in an overall reduction of 8% for the group.

SDP attributed the decline to the shortage of harvesters. However, a 13% increase in CPO prices helped the group to mitigate the setback.

In the same quarter, Sime Darby Oils (SDO) registered a profit before interest and tax (PBIT) of RM337 million, up from RM6 million in the previous corresponding period.

SDO’s Asia-Pacific operations also recorded higher trading margins during the quarter, helping to cushion the impact of lower overall sales volumes and lower margins in the European operations, the group said.

For the nine-month period to Sept 30, SDO recorded a higher non-recurring profit of RM293 million. This came mainly from gains on the disposal of land in Malaysia as well as the receipt of RM48 million “earn out” settlement for the disposal of a former subsidiary in Liberia.

Group managing director Helmy Othman Basha said that while SDP welcomes the return of migrant workers, it is also pushing ahead with plans to automate and mechanise several functions in its Malaysian operations.