YTL Corp Registers Full-Year Revenue of RM15.9 Billion (US$3.9 Billion) & Profit of RM1.0 Billion (US$244 Million)
YTL Corp Declares Interim Dividend of 4.0 Sen per Share; YTL Power Declares Interim Dividend of 5.0 Sen per Share
Kuala Lumpur, Wednesday 29 August 2018
YTL Corporation Berhad announced today revenue of RM15,859.1 million (US$3,868.1 mn) for the 12 months ended 30 June 2018, a 7.7% increase over RM14,728.7 million (US$3,592.4 mn) for the preceding 12 months ended 30 June 2017. Profit before tax stood at RM1,421.4 million (US$346.7 mn) compared to RM1,725.5 million (US$420.9 mn) last year. Profit for the period decreased to RM1,001.1 million (US$244.2 mn) for the 12 months under review, compared to RM1,442.1 million (US$351.7 mn) last year, whilst profit attributable to shareholders reduced to RM361.9 million (US$88.3 mn) this year over RM813.3 million (US$198.4 mn) for the same period last year.
The Board of Directors of YTL Corp declared an interim cash dividend of 4.0 sen per ordinary share for the financial year ended 30 June 2018, the book closure and payment dates for which are 29 October 2018 and 13 November 2018, respectively. The interim dividend represents a yield of approximately 3.0% based on the 5-day weighted average share price of RM1.34 per share.
YTL Group Executive Chairman Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The Group's performance remained satisfactory during the financial year ended 30 June 2018 in the face of ongoing pressures in some of Group's main operating industries. Our key utilities segment registered increases in revenue and profit before taxation contributed primarily by the water and sewerage division in the United Kingdom and the contracted power generation sub-segment in Malaysia.
"Higher revenue owing to improved sales volumes in all divisions of our cement business was offset by higher selling, distribution and financing costs and competitive pricing in the domestic market which resulted in lower profit before tax. The construction segment also achieved higher revenue due to the significant increase in construction work, although profit before tax was impacted by the absence of a one-off gain from an arbitration award recorded in the previous financial year.
"In the hotels segment, there was an increase in revenue contributed mainly by better performance of The Hotel Stripes, Kuala Lumpur, Niseko Village in Japan, the Sydney Harbour Marriott in Australia and 3 new hotels in the United Kingdom. However, the hotels segment saw a decrease in profit before tax due to higher unrealised foreign exchange losses on inter-company balances and pre-opening and training expenses incurred in relation to a newly opened hotel, The Ritz-Carlton, Koh Samui.
"Meanwhile, the property segment saw a decrease in revenue upon its stable of projects under development reaching completion, with the loss before tax due mainly to lower net realisable value of inventories held under the 3 Orchard By-The-Park project and a change in the fair value of investment properties recorded by Starhill Global REIT in Singapore.
"The Group's management services segment recorded an increase in revenue due to higher interest income but incurred a loss before tax arising mainly from the absence of the one-off accounting adjustments relating a loan restructuring exercise undertaken by an associated company recorded last year, as well as higher finance costs and fair value changes in investments and derivatives incurred by YTL Power."
YTL POWER INTERNATIONAL BERHAD
YTL Power Records Full-Year Revenue of RM10.6 Billion (US$2.6 Billion) & Profit of RM717 Million (US$175 Million)
Interim Dividend of 5.0 Sen per Share Declared
YTL Power registered revenue of RM10,589.7 million (US$2,582.8 mn) for the 12 months ended 30 June 2018 compared to RM9,777.9 million (US$2,384.9 mn) for preceding corresponding 12 months ended 30 June 2017. Profit before tax increased by 5.7% to RM943.2 million (US$230.1 mn) from RM892.2 million (US$217.6 mn) last year, whilst profit for the period decreased to RM716.9 million (US$174.8 mn) this year, compared to RM787.8 million (US$192.1 mn) for the same period last year. Net profit attributable to shareholders stood at RM620.7 million (US$151.4 mn) this year, compared to RM693.8 million (US$169.2 mn) last year.
The Board of Directors of YTL Power declared an interim cash dividend of 5.0 sen per ordinary share for the financial year ended 30 June 2018, the book closure and payment dates for which are 29 October 2018 and 13 November 2018, respectively. The interim dividend represents a yield of approximately 4.2% based on the 5-day weighted average share price of RM1.18 per share.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "YTL Power's operating performance remained relatively sound for the financial year ended 30 June 2018. The contracted power generation segment registered higher revenue and profit before taxation arising from the commencement of supply from our Paka power station in September 2017 under the new short-term power purchase agreement.
"In our international operations, the merchant multi-utilities business in Singapore recorded lower revenue due to the strengthening of the Ringgit against the Singapore Dollar, while lower profit before tax resulted from lower margins recorded for electricity sales and oil tank leasing, in addition to higher finance costs. Meanwhile, lower revenue in the water and sewerage segment was the result of the strengthening of the Ringgit against the Sterling but the segment registered higher profit before tax, with a reduction in operating costs partially offsetting higher finance costs.
"In the Group's other operating segments, the mobile broadband network segment was adversely impacted by intense ongoing price competition in the telecommunications industry coupled with higher operating costs, whilst the investment holding activities segment recorded higher revenue as a result of higher interest income but this was offset by a significant increase in financing costs, fair value changes in investments and derivatives and the absence of a fair value gain arising from additional purchase of shares in an associate recorded last year."
YTL LAND & DEVELOPMENT BERHAD
YTL Land Records Full-Year Revenue of RM330 Million
YTL Land's revenue decreased to RM330.1 million for the 12 months ended 30 June 2018, compared to RM367.9 million for the previous corresponding 12 months ended 30 June 2017, whilst a loss before tax of RM19.9 million for the period was recorded compared to profit before tax of RM32.8 million recorded last year. A loss for the year was also recorded amounting to RM74.1 million for the 12 months ended 30 June 2018 compared to a profit for the year of RM9.5 million last year.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The decreased revenue mainly resulted from lower progress billings from The Fennel, Dahlia and U-Thant Place projects, as these residential developments are at completion. Meanwhile, the loss before tax for the 12 months under review was due to lower net realisable value of inventories held under the 3 Orchard By-The-Park project in Singapore."
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