Sime Darby announced earnings results for the third quarter ended March 2014. For the quarter, the company announced its net profit rose 23.3% year-on-year in January-March, due to lower taxes and higher prices for palm oil, its key business. The company announced that net profit for its third quarter was MYR 852.5 million ($264.4 million), compared with MYR 691.2 million in the same period last year. The group announced that this followed a lower effective tax rate and improved results from its plantation division as a better oil extraction rate and crude palm oil price realized offset lower production. Revenue for the quarter stood at MYR 10.3 billion, down 5.1% year-on-year, however.

The company announced that the company was on track to achieve its expected net profit of MYR 2.8 billion for the year ending in June 2014-although that is 24% down on the previous year.