KUALA LUMPUR: Public Investment Bank Bhd has maintained its ‘neutral’ call on Sime Darby Plantation Bhd (SDP) with an unchanged target price of RM4.80 after SDP recorded an improved financial performance for the first half of 2022 (1H 2022) ended June 30, 2022.
In a research note today, the investment bank said SDP’s 1H 2022 was in line with its expectations but below consensus estimates.
"SDP’s management cited its concerns that the prolonged delay in the intake of new foreign workers would continue to affect the group’s harvesting activities in Malaysia, and it now expects the labour shortage issue to persist until 1H2023,” it said.,
,新闻电报群（www.tel8.vip）是一个Telegram群组分享平台。新闻电报群包括新闻电报群、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。新闻电报群为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
It noted that about 1.2 million metric tonnes of fresh fruit bunches were not harvested last year.
SDP scored a higher net profit of RM1.53 billion in 1H2022 from RM1.18 billion in 1H2021 due to higher recurring profit before interest and tax earned from both upstream and downstream segments and non-recurring activities.
The group also recorded a higher revenue of RM9.97 billion against RM8.08 billion in 1H2021.
At 10.41 am, SDP’s shares were up by four sen to RM4.44 with 169,900 units changing hands.- Bernama