Friday, November 26, 2010

Sime advances ahead of 1Q results

KUALA LUMPUR: SIME DARBY BHD [] advanced in early trade on Friday, Nov 26 ahead of the release of its first quarter results for the period ended Sept 30, 2010.

At 9.25am, it was up nine sen to RM8.82 with 24,500 shares done.

The FBM KLCI rose 2.56 points to 1,499.05. Turnover was 306.76 million shares valued at RM1.36 billion. There were 157 gainers, 128 losers and 146 stocks unchanged.

Sime Darby acting president and group chief executive Datuk Mohd Bakke Salleh had stated recently the group would be in the black in the first quarter ended Sept 30.

It posted a net loss of RM77.35 million in 4Q ended June 30, 2010 (FY2010) compared with net profit of RM984.04 million a year ago, following additional provisions for the loss-making energy and utilities (E&U) division.

Sime Darby's E&U division reported an operating loss of RM1.75 billion for FY2010 after making additional provisions of RM777.3 million for 4QFY2010.

Including the RM1.308 billion provisions up to 3QFY2010, the total provisions for foreseeable losses and impairments for the full year amounted to RM2.085 billion.

No comments:

Post a Comment