YTL Corp Records 1st Quarter Revenue of RM4.4 Billion (US$1.0 Billion) & Profit of RM319 Million (US$73 Million)
Kuala Lumpur, Thursday 26 November 2015
YTL Corporation Berhad registered revenue of RM4,448.4 million (US$1,020.3 mn) for the 3 months ended 30 September 2015, a marginal decline of 0.8% compared to RM4,484.3 million (US$1,028.5 mn) for the preceding corresponding quarter ended 30 September 2014. Profit for the period decreased to RM319.3 million (US$73.2 mn) for the first quarter of the financial year ending 30 June 2016 over RM375.2 million (US$86.1 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group has seen a satisfactory start to the 2016 financial year, particularly in light of current market conditions and ongoing volatility both at home and in many of the countries where we operate, with revenue of RM4.45 billion for the current quarter, compared to RM4.48 billion for the same period last year. Revenue growth was contributed mainly by our construction, cement and hotels divisions, offset by lower revenues in the utilities and property segments. Meanwhile, profit for the quarter was impacted primarily by challenging conditions in the merchant multi-utilities business in Singapore and the ongoing intense competition in the local cement industry.
“Looking ahead, our general outlook for 2016 remains satisfactory across the Group’s operating segments. In our key multi-utilities segment, we expect to further develop the portfolio of regulated and non-regulated businesses to bolster performance, in addition to introducing LTE services to our Yes network offerings.”
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers Revenue of RM3.2 Billion (US$739 Million)
Profit Stands at RM174 Million (US$40 Million)
YTL Power recorded revenue of RM3,220.0 million (US$738.5 mn) for the 3 months ended 30 September 2015 compared to RM3,358.7 million (US$770.3 mn) for the same period last year, whilst profit for the period decreased to RM174.1 million (US$39.9 mn) this year, compared to RM237.5 million (US$54.5 mn) for the same period last year.
The decrease was mainly due to lower contributions from the merchant multi-utilities business segment, as well as losses recorded in the mobile broadband network segment, partially offset by better performance of the water and sewerage segment owing to lower operating costs and the stronger British Pound.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves Revenue of RM29.6 Million & Profit of RM17.3 Million
YTL Land recorded revenue of RM29.6 million for the 3 months ended 30 September 2015, an increase of 8.2% compared to RM27.3 million for the same period last year, whilst profit for the period increased to RM17.3 million over RM4.1 million last year. The increase was attributed mainly to higher work progress from The Fennel phase of the Group’s Sentul development, unrealised foreign exchange gains on amounts due from its Singapore subsidiaries and a share of profits from The Shorefront project being undertaken in Penang on a joint venture basis.
YTL E-SOLUTIONS BERHAD
YTL e-Solutions Achieves Revenue of RM20.8 Million & Profit of RM14.1 Million
YTL e-Solutions registered revenue of RM20.8 million for the 3 months ended 30 September 2015, a 3.3% decrease compared to RM21.5 million for the same period last year, whilst profit for the period stood at RM14.1 million for the quarter under review. The decrease was due to the lower revenue in the content and digital media segment and a share of loss of an associated company in the communications technology division.
YTL HOSPITALITY REIT
YTL Hospitality REIT Records Revenue of RM97.4 Million & Distributable Income of RM27.2 Million
Interim Distribution of 1.9175 Sen per Unit Declared
YTL Hospitality REIT registered revenue of RM97.4 million for the 3 months ended 30 September 2015, decreasing by 4.8% compared to RM102.3 million for the same period last year. The Group recorded a loss before tax of RM51.3 million for the current quarter under review compared to profit before tax of RM8.6 million for the preceding year corresponding quarter ended 30 September 2014. The decrease was due to an unrealised foreign currency translation loss of RM55.6 million on an Australian Dollar denominated term loan. However, adjusting for this unrealised foreign exchange translation loss, the Group recorded profit before tax of RM4.3 million for the quarter under review.
Income available for distribution increased to RM27.2 million this quarter over RM26.4 million recorded in preceding year corresponding quarter, representing an increase of 3.2%, after adjustment for non-cash items.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9175 sen per unit, the book closure and payment dates for which are 11 December 2015 and 30 December 2015, respectively. The total income distribution amounts to RM25.4 million, representing approximately 93% of the total distributable income for the financial period ended 30 September 2015.
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