SD Guthrie Berhad registered a net profit of RM626 million for the six months ended 30 June 2024 (1H FY2024), a 39% year-on-year (YoY) increase from the previous corresponding period. For the second quarter of the financial year ending 31 December 2024 (2Q FY2024), the Group's recurring net profit increased by 134% YoY contributing to the overall net profit of RM415 million.

The group said the improved YoY operational performance was the result of improved fresh fruit bunch (FFB) production, lower operational costs and sustained strong crude palm oil (CPO) and palm kernel (PK) prices. FFB production rose by 8% YoY, primarily driven by the strong recovery in the Group's Malaysian operations which recorded a commendable 38% YoY increase in FFB production. In 2Q FY2024, the Group's average realised CPO and PK prices increased by 7% and 23% YoY to RM4,029 per metric ton (MT) and RM2,166 per MT respectively.

The group's downstream arm, also delivered strong results, registering a marked increase in YoY profits. In 2Q FY2024, SDGI's profit before interest and tax (PBIT) increased by 81% to RM225 million from RM124 million in 2Q FY2023. The higher profits was largely attributable to higher margins achieved in all regions, primarily due to better prices, higher sustainability premiums and improved product mix

The Group is pleased to declare an interim dividend of 4.65 sen per share for FY2024.