YTL Corp Records 1st Quarter Revenue of RM4.1 Billion (US$976Million) & Profit Before Tax of RM342 Million (US$82 Million)
Kuala Lumpur, Friday 23 November 2018
YTL Corporation Berhad recorded revenue of RM4,088.5 million (US$975.8 mn) for the 3 months ended 30 September 2018 compared to RM4,204.8 million (US$1,003.5 mn) for the preceding quarter ended 30 June 2018.
However, profit before tax increased 175% to RM341.9 million (US$81.6 mn) this quarter compared to RM124.1 million (US$29.6 mn) last quarter, whilst net profit attributable to owners of the parent jumped 297% to RM125.8 million (US$30.0 mn) for the quarter compared to the last quarter.
YTL Corp Executive Chairman Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The Group made a good start to the 2019 financial year, with our key operating segments continuing to perform well. The marginal decrease in revenue was mainly due to lower revenue contributed by the construction segment. However, the Group registered a surge in profit before tax primarily as a result of the absence of the lower net realisable value of inventories recorded in the property investment and development segment last quarter."
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers 1st Quarter Revenue of RM2.8 Billion (US$669 Million) & Profit Before Tax of RM191 Million (US$46 Million)
YTL Power recorded revenue of RM2,803.4 million (US$669.1 mn) for the 3 months ended 30 September 2018 compared to RM2,815.8 million (US$672.0 mn) for the preceding 3 months ended 30 June 2018. Profit before tax stood at RM190.7 million (US$45.5 mn) this quarter compared to RM283.3 million (US$67.6 mn) last quarter, with profit after tax of RM150.4 million (US$35.9 mn) for the quarter under review.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Power, said, "YTL Power's revenue for the quarter remained stable, with all divisions continuing to perform on target. The contracted power generation segment continues to supply electricity from Paka Power Station under the new power purchase agreement which commenced on 1 September 2017.
Meanwhile, whilst the Singapore market remains challenging due to the ongoing over-supply situation, the division's performance remained satisfactory. The lower profit before taxation this quarter was primarily attributable to the absence of a one-off pension credit recognised in the last quarter in the water and sewerage segment."
YTL LAND & DEVELOPMENT BERHAD
YTL Land Registers 1st Quarter Revenue of RM34.5 Million & Profit Before Tax of RM9.2 Million
YTL Land recorded revenue of RM34.5 million for the 3 months ended 30 September 2018 compared to RM119.0 million for the preceding quarter ended 30 June 2018, and profit before tax jumped 109% to RM9.2 million for the quarter under review compared to the last quarter.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Land, said, "The decrease in revenue during the quarter was mainly due to the lower recognition of revenue following completion of development projects in the current quarter and the land disposals recorded last quarter. The jump in profit before tax this quarter was mainly due to the lower net realisable value of inventories held under the Group's 3 Orchard By-The-Park project in Singapore, recorded during the last quarter."
YTL HOSPITALITY REIT
YTL Hospitality REIT Records 1st Quarter Revenue of RM114 Million & Distributable Income of RM33 Million; Distribution of 1.9219 Sen per Unit Declared
YTL Hospitality REIT recorded revenue of RM113.9 million for the 3 months ended 30 September 2018, compared to RM116.6 million for the previous quarter ended 30 June 2018, whilst net property income stood at RM56.3 million this quarter compared to RM58.1 million last quarter. Distributable income was largely stable at RM32.8 million for the quarter compared to RM33.5 million last quarter.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, Chief Executive Officer of Pintar Projek SdnBhd, the Manager of YTL Hospitality REIT, said, "In the Trust's international portfolio, revenue and net property income from the Australian properties decreased mainly as a result of a refurbishment exercise carried out during the quarter, as well as the weakening of the Australian Dollar against the Malaysian Ringgit. The Trust's Japanese properties, meanwhile, registered higher revenue due to the acquisition of The Green Leaf Niseko Village in September 2018, but lower net property income due to one-off costs incurred in relation to the acquisition. Performance of the Trust's Malaysian properties remained stable."
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9219 sen per unit, the book closure and payment dates for which are 7 December 2018 and 28 December 2018, respectively. The total income distribution amounts to RM32.8 million, representing approximately 100% of the total distributable income for the financial quarter ended 30 September 2018.
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