Plantation conglomerate, Sime Darby Bhd, today announced its Key Performance Index) for the financial year ending June 30, 2012, with a target net earnings of RM3.3 billion and a return on average shareholders' funds at 13.3 per cent.
President and Group Chief Executive Datuk Mohd Bakke Salleh said the forecast was based on crude palm oil prices at slightly below RM2,800 a tonne average.
"We have more then seven months to go. We're happy if the price stayed above RM3,000 (a tonne). It's a bonus," he told a press conference. About 60 per cent of the conglomerate's turnover came from the plantation division.
Asked why the net profit forecast was lower than the previous financial year, Mohd Bakke said: "When we do forecasting, (we) always go with the conservative and not be too aggressive."
Sime Darby posted RM3.7 billion net profit for financial year ended June 30, 2011. -- Bernama
President and Group Chief Executive Datuk Mohd Bakke Salleh said the forecast was based on crude palm oil prices at slightly below RM2,800 a tonne average.
"We have more then seven months to go. We're happy if the price stayed above RM3,000 (a tonne). It's a bonus," he told a press conference. About 60 per cent of the conglomerate's turnover came from the plantation division.
Asked why the net profit forecast was lower than the previous financial year, Mohd Bakke said: "When we do forecasting, (we) always go with the conservative and not be too aggressive."
Sime Darby posted RM3.7 billion net profit for financial year ended June 30, 2011. -- Bernama
