Latest news for Sime Darby (OTC:SMEBF) Stock

Sime Darby Bhd is a Malaysia-based investment holding company. It organizes itself into four segments, based on business type: motors, industrial, UMW, Corporate and others. The Industrial segment sells, rents, and services equipment and engineering services; the Motors segment, the largest contributor to revenue, assembles sells and rents out vehicles and provides after-sales services, UMW, Corporate and others. Sime Darby derives revenue from Malaysia, Greater China, Other Countries in Asia, and Australasia.

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Here&#39;s Why Cargill Suspended Palm Oil Deal With Malaysia&#39;s Leading Planter Sime Darby: Bloomberg

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Sime Darby Swings To Q4 Net Profit

Sime Darby Bhd

<ul>
<li>Leading agricultural trader&nbsp;Cargill Inc&nbsp;stopped buying palm oil products from&nbsp;Sime Darby Plantation Bhd&nbsp;(OTCMKTS: SDPNF) following indication of forced labor,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-04-18/cargill-suspends-palm-oil-purchases-from-malaysia-s-sime-darby?srnd=premium-asia&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.&nbsp;</li>
<li>Sime Darby acknowledged that Cargill had suspended all new sourcing of palm oil and derivative products since February 25 for reasons undisclosed. The companies were in talks.</li>
<li>Sime is a leading oil palm planter by acreage.</li>
<li>The U.S. Customs and Border Protection looked to seize Sime&#39;s palm oil and related goods as Sime used convicts and forced or indentured labor to manufacture products.</li>
<li>Sime acknowledged it is taking measures to improve its labor rights and that other customers have taken up the supply of bulk products to Cargill in India.</li>
<li>Sime also acknowledged that Italian confectionery giant Ferrero would stop sourcing palm oil from the company.&nbsp;</li>
<li>Ferrero,&nbsp;General Mills Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gis#NYSE">GIS</a>), and&nbsp;The Hershey Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsy#NYSE">HSY</a>) ceased to have been Sime&#39;s customers for a while.</li>
<li>Photo by tristantan via Pixabay</li>
</ul>

Here's Why Cargill Suspended Palm Oil Deal With Malaysia's Leading Planter Sime Darby: Bloomberg

Hormel Foods Corp (NYSE: <a class="ticker" href="/stock/hrl#NYSE">HRL</a>) reported a 15% rise in its fiscal third-quarter net income and raised its full-year earnings forecast. Hormel reported its quarterly earnings at $98.5 million, or $0.36 per share, up from $85.4 million, or $0.32 per share, in the year-ago period. Its revenue climbed 10% to $1.91 billion from $1.73 billion. However, analysts were expecting earnings of $0.35 per share on revenue of $1.87 billion. Hormel now projects 2011 earnings of $1.70 to $1.75 per share, versus $1.67 to $1.73 per share. However, analysts expected earnings of $1.71 per share for the year.

Signet Jewelers Ltd (NYSE: <a class="ticker" href="/stock/sig#NYSE">SIG</a>) reported a rise in its Q2 profit. Signet reported its quarterly net income at $66.3 million, or $0.76 per share, up from $38.7 million, or $0.45 per share, in the year-ago period. Signet's sales at stores open at least a year surged 12.2% in the US and 1.4% in Britain. Overall company sales climbed 10.8% to $797.6 million.

Regis Corp (NYSE: <a class="ticker" href="/stock/rgs#NYSE">RGS</a>) reported an upbeat quarterly profit. Regis posted a Q4 net loss of $16.4 million, or $0.29 per share, versus a profit of $18.3 million, or $0.30 per share, in the year-ago period. Excluding items, Regis earned $0.37 per share, up from analysts' estimates of $0.30 per share. Regis' revenue climbed 0.3% to $592 million, versus analysts' estimates of $591.1 million. Regis projects full-year 2012 operational earnings of $1.16 to $1.32 per share, versus analysts' estimates of $1.25 per share. 

Brown Shoe Co Inc (NYSE: <a class="ticker" href="/stock/bws#NYSE">BWS</a>) swung to a Q2 loss and lowered its full-year profit outlook. Brown Shoe posted a quarterly net loss of $4.6 million, or $0.11 per share, versus a profit of $5.3 million, or $0.12 per share, in the year-ago period. Its revenue climbed 7.2% to $628.1 million. Brown Shoe now projects a full-year adjusted profit of $0.85 to $0.97 per share, up from its earlier forecast of $1.25 to $1.32 per share. 

Big Lots Inc (NYSE: <a class="ticker" href="/stock/big#NYSE">BIG</a>) released its results for the fiscal second-quarter on Thursday. Big Lots' net profit for the period came in at $35.7 million, or $0.50 per share, versus $38.9 million, or $0.48 per share, in the year-ago period. Its net sales climbed 2.2% to $1.17 billion. However, analysts were expecting earnings of $0.44 per share on revenue of $1.16 billion.

Energy Conversion Devices Inc (NASDAQ: <a class="ticker" href="/stock/ener#NASDAQ">ENER</a>) reported a wider Q4 loss. Energy Conversion posted a quarterly net loss of $42.1 million, or $0.84 per share, versus a loss of $20.9 million, or $0.49 per share, in the year-ago period. Its revenue dropped 15% to $73.1 million.

Sanderson Farms Inc (NASDAQ: <a class="ticker" href="/stock/safm#NASDAQ">SAFM</a>) reported a loss for the third-quarter on Thursday. Sanderson Farms posted a quarterly loss of $56 million, or $2.51 per share, versus a profit of $36 million, in the same year-ago period. Analysts were expecting a loss of $0.96 per share. Its revenue surged 4.5% to $511 million, versus analysts' estimates of $515 million.

Diageo PLC (NYSE: <a class="ticker" href="/stock/deo#NYSE">DEO</a>) reported a 17% rise in its full-year profit. Diageo's profit for the period surged to 1.9 billion pounds ($3.1 billion), from 1.63 billion pounds, in the year-ago period. Its sales climbed 2% to 9.94 billion pounds. The tax rate dropped from 21% to 14.5%.

Toll Holdings Ltd (OTC: <a class="ticker" href="/stock/thkuy#OTC">THKUY</a>) reported a 1% rise in its annual net profit. Toll's net profit for the period climbed to A$281 million, from A$279 million, in the year-ago period. Its revenue surged 18% to A$8.23 billion from A$6.94 billion. 

Woolworths Ltd (OTC: <a class="ticker" href="/stock/wolwf#OTC">WOLWF</a>) reported a 5.1% rise in its annual net profit. Woolworths' net profit for the period rose to A$2.12 billion, from the previous year's A$2.02 billion, versus analysts' estimates of A$2.14 billion. Woolworths' revenue from ordinary activities climbed 4.9% to A$54.51 billion from A$51.96 billion. 

Credit Agricole (OTC: <a class="ticker" href="/stock/crary#OTC">CRARY</a>) reported a 1.8% drop in its second-quarter net income. Credit Agricole's net income for the period declined to 881 million euros ($1.27 billion). Its revenue climbed 2% to 9.14 billion euros.

Wheelock &amp; Co (OTC: <a class="ticker" href="/stock/whlky#OTC">WHLKY</a>) reported a 56% surge in its net profit for the first half. Wheelock's net profit for the period rose to HK$10.22 billion, from HK$6.53 billion, in the year-ago period. Its revenue climbed 9.9% to HK$13.76 billion from HK$12.52 billion. 
Massmart Holdings Ltd (OTC: <a class="ticker" href="/stock/mmrty#OTC">MMRTY</a>) reported a rise in its full-year profit. Massmart's total sales in the year ending June 30 climbed 11.6% to 52.95 billion rand. Its trading profit surged 10.3% to ZAR2.059 billion.

Wharf (Holdings) Ltd (OTC: <a class="ticker" href="/stock/warfy#OTC">WARFY</a>) reported a 31% rise in its first-half net profit. Wharf's net profit for the period rose to HK$14.30 billion, from HK$10.89 billion. Excluding revaluation gains and related taxes, Wharf's underlying net profit climbed 11% to HK$3.28 billion from HK$2.96 billion. Wharf's revenue surged 13% to HK$9.75 billion from HK$8.62 billion. 

Ahold NV (OTC: <a class="ticker" href="/stock/ahony#OTC">AHONY</a>) reported a rise in its market share for the second quarter. Ahold's net profit for the period fell 1.5% to EUR199 million. Its sales dropped 3.5% to EUR6.9 billion. At constant exchange rates, net sales climbed 5.4%. Ahold's earnings before interest and taxes dipped 20.7% to EUR275 million.

Sime Darby Bhd (OTC: <a class="ticker" href="/stock/smebf#OTC">SMEBF</a>) swung to a net profit in the fourth quarter. Sime Darby reported a net profit of MYR1.31 billion in the three months ended June 30, versus a net loss of MYR77.4 million, in the year-ago period.

Glencore International PLC (OTC: <a class="ticker" href="/stock/glcnf#OTC">GLCNF</a>) reported a strong rise in its first-half net income per share. Glencore reported its earnings at $0.57 per share, up from $0.29 per share, in the year-ago period. Its adjusted earnings came in at $0.56 per share. Glencore's revenue surged to $92.12 billion from $70.01 billion.

Sime Darby Bhd (OTC: SMEBF) swung to a net profit in the fourth quarter.

Sime Darby reported a net profit of MYR1.31 billion in the three months ended June 30, versus a net loss of MYR77.4 million, in the year-ago period.

Sime Darby shares closed at $2.80 yesterday.

Sime Darby

<ul>
	<li>Leading agricultural trader&nbsp;Cargill Inc&nbsp;stopped buying palm oil products from&nbsp;Sime Darby Plantation Bhd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SDPNF#OTC">SDPNF</a>) following indication of forced labor,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-04-18/cargill-suspends-palm-oil-purchases-from-malaysia-s-sime-darby?srnd=premium-asia&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.&nbsp;</li>
	<li>Sime Darby acknowledged that Cargill had suspended all new sourcing of palm oil and derivative products since February 25 for reasons undisclosed. The companies were in talks.</li>
	<li>Sime is a leading oil palm planter by acreage.</li>
	<li>The U.S. Customs and Border Protection looked to seize Sime&#39;s palm oil and related goods as Sime used convicts and forced or indentured labor to manufacture products.</li>
	<li>Sime acknowledged it is taking measures to improve its labor rights and that other customers have taken up the supply of bulk products to Cargill in India.</li>
	<li>Sime also acknowledged that Italian confectionery giant Ferrero would stop sourcing palm oil from the company.&nbsp;</li>
	<li>Ferrero,&nbsp;General Mills Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), and&nbsp;The Hershey Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) ceased to have been Sime&#39;s customers for a while.</li>
	<li>Photo by tristantan via Pixabay</li>
</ul>

Hormel Foods Corp (NYSE: <a class="ticker" href="/stock/hrl#NYSE">HRL</a>) reported a 15% rise in its fiscal third-quarter net income and raised its full-year earnings forecast. Hormel reported its quarterly earnings at $98.5 million, or $0.36 per share, up from $85.4 million, or $0.32 per share, in the year-ago period. Its revenue climbed 10% to $1.91 billion from $1.73 billion. However, analysts were expecting earnings of $0.35 per share on revenue of $1.87 billion. Hormel now projects 2011 earnings of $1.70 to $1.75 per share, versus $1.67 to $1.73 per share. However, analysts expected earnings of $1.71 per share for the year.

Signet Jewelers Ltd (NYSE: <a class="ticker" href="/stock/sig#NYSE">SIG</a>) reported a rise in its Q2 profit. Signet reported its quarterly net income at $66.3 million, or $0.76 per share, up from $38.7 million, or $0.45 per share, in the year-ago period. Signet's sales at stores open at least a year surged 12.2% in the US and 1.4% in Britain. Overall company sales climbed 10.8% to $797.6 million.

Regis Corp (NYSE: <a class="ticker" href="/stock/rgs#NYSE">RGS</a>) reported an upbeat quarterly profit. Regis posted a Q4 net loss of $16.4 million, or $0.29 per share, versus a profit of $18.3 million, or $0.30 per share, in the year-ago period. Excluding items, Regis earned $0.37 per share, up from analysts' estimates of $0.30 per share. Regis' revenue climbed 0.3% to $592 million, versus analysts' estimates of $591.1 million. Regis projects full-year 2012 operational earnings of $1.16 to $1.32 per share, versus analysts' estimates of $1.25 per share. 

Brown Shoe Co Inc (NYSE: <a class="ticker" href="/stock/bws#NYSE">BWS</a>) swung to a Q2 loss and lowered its full-year profit outlook. Brown Shoe posted a quarterly net loss of $4.6 million, or $0.11 per share, versus a profit of $5.3 million, or $0.12 per share, in the year-ago period. Its revenue climbed 7.2% to $628.1 million. Brown Shoe now projects a full-year adjusted profit of $0.85 to $0.97 per share, up from its earlier forecast of $1.25 to $1.32 per share. 

Big Lots Inc (NYSE: <a class="ticker" href="/stock/big#NYSE">BIG</a>) released its results for the fiscal second-quarter on Thursday. Big Lots' net profit for the period came in at $35.7 million, or $0.50 per share, versus $38.9 million, or $0.48 per share, in the year-ago period. Its net sales climbed 2.2% to $1.17 billion. However, analysts were expecting earnings of $0.44 per share on revenue of $1.16 billion.

Energy Conversion Devices Inc (NASDAQ: <a class="ticker" href="/stock/ener#NASDAQ">ENER</a>) reported a wider Q4 loss. Energy Conversion posted a quarterly net loss of $42.1 million, or $0.84 per share, versus a loss of $20.9 million, or $0.49 per share, in the year-ago period. Its revenue dropped 15% to $73.1 million.

Sanderson Farms Inc (NASDAQ: <a class="ticker" href="/stock/safm#NASDAQ">SAFM</a>) reported a loss for the third-quarter on Thursday. Sanderson Farms posted a quarterly loss of $56 million, or $2.51 per share, versus a profit of $36 million, in the same year-ago period. Analysts were expecting a loss of $0.96 per share. Its revenue surged 4.5% to $511 million, versus analysts' estimates of $515 million.

Diageo PLC (NYSE: <a class="ticker" href="/stock/deo#NYSE">DEO</a>) reported a 17% rise in its full-year profit. Diageo's profit for the period surged to 1.9 billion pounds ($3.1 billion), from 1.63 billion pounds, in the year-ago period. Its sales climbed 2% to 9.94 billion pounds. The tax rate dropped from 21% to 14.5%.

Toll Holdings Ltd (OTC: <a class="ticker" href="/stock/thkuy#OTC">THKUY</a>) reported a 1% rise in its annual net profit. Toll's net profit for the period climbed to A$281 million, from A$279 million, in the year-ago period. Its revenue surged 18% to A$8.23 billion from A$6.94 billion. 

Woolworths Ltd (OTC: <a class="ticker" href="/stock/wolwf#OTC">WOLWF</a>) reported a 5.1% rise in its annual net profit. Woolworths' net profit for the period rose to A$2.12 billion, from the previous year's A$2.02 billion, versus analysts' estimates of A$2.14 billion. Woolworths' revenue from ordinary activities climbed 4.9% to A$54.51 billion from A$51.96 billion. 

Credit Agricole (OTC: <a class="ticker" href="/stock/crary#OTC">CRARY</a>) reported a 1.8% drop in its second-quarter net income. Credit Agricole's net income for the period declined to 881 million euros ($1.27 billion). Its revenue climbed 2% to 9.14 billion euros.

Wheelock & Co (OTC: <a class="ticker" href="/stock/whlky#OTC">WHLKY</a>) reported a 56% surge in its net profit for the first half. Wheelock's net profit for the period rose to HK$10.22 billion, from HK$6.53 billion, in the year-ago period. Its revenue climbed 9.9% to HK$13.76 billion from HK$12.52 billion. 
Massmart Holdings Ltd (OTC: <a class="ticker" href="/stock/mmrty#OTC">MMRTY</a>) reported a rise in its full-year profit. Massmart's total sales in the year ending June 30 climbed 11.6% to 52.95 billion rand. Its trading profit surged 10.3% to ZAR2.059 billion.

Wharf (Holdings) Ltd (OTC: <a class="ticker" href="/stock/warfy#OTC">WARFY</a>) reported a 31% rise in its first-half net profit. Wharf's net profit for the period rose to HK$14.30 billion, from HK$10.89 billion. Excluding revaluation gains and related taxes, Wharf's underlying net profit climbed 11% to HK$3.28 billion from HK$2.96 billion. Wharf's revenue surged 13% to HK$9.75 billion from HK$8.62 billion. 

Ahold NV (OTC: <a class="ticker" href="/stock/ahony#OTC">AHONY</a>) reported a rise in its market share for the second quarter. Ahold's net profit for the period fell 1.5% to EUR199 million. Its sales dropped 3.5% to EUR6.9 billion. At constant exchange rates, net sales climbed 5.4%. Ahold's earnings before interest and taxes dipped 20.7% to EUR275 million.

Sime Darby Bhd (OTC: <a class="ticker" href="/stock/smebf#OTC">SMEBF</a>) swung to a net profit in the fourth quarter. Sime Darby reported a net profit of MYR1.31 billion in the three months ended June 30, versus a net loss of MYR77.4 million, in the year-ago period.

Glencore International PLC (OTC: <a class="ticker" href="/stock/glcnf#OTC">GLCNF</a>) reported a strong rise in its first-half net income per share. Glencore reported its earnings at $0.57 per share, up from $0.29 per share, in the year-ago period. Its adjusted earnings came in at $0.56 per share. Glencore's revenue surged to $92.12 billion from $70.01 billion.

Sime Darby Bhd (OTC: SMEBF) swung to a net profit in the fourth quarter.

Sime Darby reported a net profit of MYR1.31 billion in the three months ended June 30, versus a net loss of MYR77.4 million, in the year-ago period.

Sime Darby shares closed at $2.80 yesterday.


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