In a filing with Bursa Malaysia today, the global trading and logistics player said that its over five-fold jump in net profit was largely attributed to the RM2 billion gain on the disposal of Ramsay Sime Darby Health Care (RSDH) in December last year.

The core net profit for the quarter, excluding the gain on the disposal of the healthcare unit, amounted to RM269 million.

The group also recorded a RM15.5 billion revenue, 37.7% higher compared with RM11.3 billion in Q2 FY2023.

For the first six months of FY2024 (H1 FY24) ended Dec 31, 2023, the group recorded a higher net profit of RM2.9 billion compared to RM596 million.

The group also announced an interim dividend of three sen per share for the first half of FY2024.

“We had an eventful quarter. We announced the completion of the sale of RSDH and our full exit from the healthcare business. This will allow us to fully focus on the growth of our two core businesses, namely industrial and motors,” group CEO Jeffri Salim Davidson said in a statement.

He said the group also completed the acquisition of UMW, adding two mass market brands — Toyota and Perodua — to its portfolio.

“This will help broaden our earnings and unlock further value for the group,” he said.

He added that work is already in progress to ensure the smooth and seamless integration of UMW into the Sime Darby family.