By Ying Xian WongSime Darby Plantation's quarterly net profit tripled thanks to improvements in its upstream operation. The plantation company said Friday that its third-quarter net profit rose to 1.21 billion ringgit ($258.6 million) from MYR396 million a year ago. Sime Darby Plantation said commodity prices could remain volatile in the near term amid geopolitical concerns and global macroeconomic uncertainties. Sime Darby Plantation said it expects satisfactory performance for 2023 and continues to look toward expanding into new and existing markets, especially through its downstream division. Write to Ying Xian Wong at yingxian.wong@wsj.com(END) Dow Jones NewswiresNovember 24, 2023 01:01 ET (06:01 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal November 24, 2023 06:09 UTC