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Sime Darby's net profit rises 5.4% on year, on track to list units this year

KUALA LUMPUR (Nikkei Markets) - Malaysia's Sime Darby, the world's largest palm oil producer by acreage, said Wednesday its fiscal third-quarter net profit rose 5.4%, helped by higher contribution from its plantation, industrial and motor divisions.

Net profit for the quarter ended Mar. 31 stood at 699 million ringgit ($163.42 million) compared with 663 million ringgit over the same period a year earlier, Sime Darby said in an exchange filing. Quarterly revenue increased 21.6% year-on-year to 12.45 billion ringgit from 10.23 billion ringgit.

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