By Chester Tay

Sime Darby Plantation Bhd.'s first-quarter net profit jumped more than four times, mainly due to a disposal gain from the Liberia subsidiary, higher crude palm oil prices and unrealized gains from commodity hedges.

Net profit rose to 394 million ringgit ($90.6 million), while revenue increased 1.5% on year to MYR3.04 billion, the plantation group said in a stock exchange filing Friday.

Sime Darby Plantation said the continuing Covid-19 pandemic hasn't posted any material impact to its operations so far.

However, it cautioned that there were risks of customers deferring or defaulting on contracts, credit risks and volatility from foreign exchange fluctuations.

Sime Darby Plantation said the outlook for 2020 will be impacted by volatility of CPO and palm kernel prices and any impediment to operations, should a prolonged or worsening pandemic continue to affect global business activities. 



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