KUALA LUMPUR: SD Guthrie Bhd's net profit slipped 37 per cent to RM766.0 million in the third quarter ended Sept 30, 2024 (3Q 2024) from RM1.21 billion posted in the same quarter last year.

The decline was mainly due to lower profits from the downstream segment and non-recurring transactions, mitigated by stronger performance from the upstream segment, the group said in a filing with Bursa Malaysia today.

It said finance costs were reduced by 24 per cent in the quarter, mainly due to lower borrowings and lower average interest rate, which declined to 5.3 per cent per annum from 5.6 per cent per annum in the previous corresponding quarter.

However, SD Guthrie's revenue jumped to RM5.27 billion from RM4.77 billion previously.

On prospects, the group expects its performance for the financial year ending Dec 31, 2024, to be satisfactory, barring any unforeseen circumstances.