(Refiles to add CEO's first name in third paragraph)
KUALA LUMPUR Nov 29 Malaysia's
plantations-to-motoring conglomerate Sime Darby Bhd
reported a 51 percent slump in first quarter net profit as
weaker commodity prices and lower consumer sentiment weighed
across all its business segments.
Profit for three months to September fell to 489 million
ringgit ($151.37 million) compared to 990 million ringgit the
same period a year ago.
"As an immediate measure, the group will continue to
institute prudent cost controls, increase focus on efficient
working capital management and undertake a disciplined approach
towards capital allocation and cash flow management," Sime Darby
CEO Mohammad Bakke Salleh said in a statement.
($1 = 3.2305 Malaysian ringgit)
(Reporting by Niluksi Koswanage; Editing by Matt Driskill)