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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Sime Darby Plantation    SIMEPLT   MYL5285OO001

SIME DARBY PLANTATION

(SIMEPLT)
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Sime Darby Plantation Posts 4Q Loss Due to Lower Recurring Income

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02/28/2020 | 02:28am EDT

By Chester Tay

Sime Darby Plantation Bhd. incurred a net loss for the fourth quarter due to lower recurring income from both its upstream and downstream operations.

The plantation group on Friday reported a net loss of 45.0 million ringgit ($10.7 million), compared with net profit of MYR172.0 million in the same period a year earlier.

Fourth-quarter revenue grew 3.3% compared with a year earlier to MYR3.38 billion.

Net profit for 2019 was MYR122.0 million, down 83%, while revenue declined 8.9% to MYR12.06 billion.

It said its upstream operations, which is involved with plantation estates and mills, posted a loss because of unrealised losses on the fair value of its commodity hedges, lower fresh fruit bunch production and lower palm kernel prices.

Its downstream operations, which is involved in the refining and sale of palm oil, posted lower profit because of unrealised losses on the fair value of commodity contracts incurred in its refinery in Europe and weaker contribution from businesses in Africa.

Sime Darby Plantation expects palm product prices to recover in 2020 due to a slowdown in crop production but said the recovery may be limited by concerns over global economic growth arising from the coronavirus epidemic.

 

Write to Chester Tay at chester.tay@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED -2.28% 1.715 End-of-day quote.-10.44%
AT HOME GROUP INC. 2.76% 5.96 Delayed Quote.8.36%
CPO (CPO) - CMG (ELECTRONIC)/C1 0.09% 558.25 End-of-day quote.-20.15%
DOW JONES AFRICA TITANS 50 INDEX 0.38% 464.01 Delayed Quote.-13.95%
JUST GROUP PLC 2.25% 49.06 Delayed Quote.-37.90%
LONDON BRENT OIL 1.98% 43.24 Delayed Quote.-34.38%
S&P AFRICA 40 INDEX 0.15% 153.57 Delayed Quote.-11.24%
SIME DARBY PLANTATION 1.41% 5.03 End-of-day quote.-7.71%
THE GLOBAL LTD. -3.30% 205 End-of-day quote.-56.48%
WILL GROUP, INC. -2.52% 618 End-of-day quote.-50.64%
WTI 2.42% 40.565 Delayed Quote.-33.37%
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Financials
Sales 2020 12 890 M 3 023 M 3 023 M
Net income 2020 669 M 157 M 157 M
Net Debt 2020 7 220 M 1 693 M 1 693 M
P/E ratio 2020 52,8x
Yield 2020 0,97%
Capitalization 34 629 M 8 125 M 8 121 M
EV / Sales 2019
EV / Sales 2020 3,25x
Nbr of Employees 94 000
Free-Float 27,0%
Chart SIME DARBY PLANTATION
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Technical analysis trends SIME DARBY PLANTATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 4,76 MYR
Last Close Price 5,03 MYR
Spread / Highest target 13,5%
Spread / Average Target -5,42%
Spread / Lowest Target -32,4%
EPS Revisions
Managers
NameTitle
Mohamad Helmy bin Othman Basha Group Managing Director & Director
Abdul Ghani Othman Non-Independent Non-Executive Chairman
Adi Wara Abdul Razak Chief Operations Services Officer
Renaka Ramachandran Chief Financial Officer
Harikrishna Kulaveerasingam Chief Research & Development Officer
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