YTL Corp Records 1st Quarter Revenue of RM3.9 Billion (US$940 Million) & Profit of RM310 Million (US$74 Million)
Kuala Lumpur, Wednesday 22 November 2017
YTL Corporation Berhad registered revenue of RM3,929.9 million (US$940.2 mn) for the 3 months ended 30 September 2017 compared to RM3,492.2 million (US$835.4 mn) for the preceding corresponding quarter ended 30 September 2016. Profit for the period increased to RM309.6 million (US$74.1 mn) for the first quarter of the financial year ending 30 June 2018 over RM263.1 million (US$63.0 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group’s financial performance for the first quarter of the 2018 financial year saw a 12.5% increase in revenue to RM3.9 billion, with profit for the period increasing 17.6% to RM310 million compared to the same period last year. The bulk of the increase in revenue was contributed by our utilities division, with our construction, property, cement, IT, hotels and management services segments also registering revenue growth.
“Meanwhile, the increase in profit before tax was contributed mainly by our property segment, following a land disposal to Pentadbir Tanah Kuala Lumpur in relation to the Mass Rapid Transit (MRT) project, and our utilities segment, which saw the commencement of supply from our Paka Power Station on 1 September 2017 under the new power purchase agreement. Profit before tax from the Group’s cement business was impacted by increased production costs and the absence of liquidated damages recognised last year, whilst profit from our hotels segment was affected by the ongoing renovation of the JW Marriott Kuala Lumpur and pre-opening and training costs incurred by The Ritz-Carlton, Koh Samui, a new development in Thailand.”
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers 1st Quarter Revenue of RM2.6 Billion (US$617 Million) & Profit of RM155 Million (US$37 Million)
YTL Power recorded revenue of RM2,578.4 million (US$616.8 mn) for the 3 months ended 30 September 2017 compared to RM2,340.6 million (US$560.0 mn) for the preceding corresponding 3 months ended 30 September 2016, whilst profit for the period increased to RM155.1 million (US$37.1 mn) this year, compared to RM150.6 million (US$36.0 mn) for the same period last year.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “YTL Power registered a good start to the financial year, with higher profit for the first quarter of the 2018 financial year resulting from lower operating costs in the mobile broadband segment and the commencement of supply from our Paka Power Station on 1 September 2017 under the new power purchase agreement.
“Our water and sewerage business in the UK saw an increase in revenue resulting from the opening of the retail market for non-household customers and the price increase allowed by the industry regulator, although higher financing costs resulted in lower profit before taxation for the quarter. The merchant multi-utilities segment in Singapore registered lower profit before taxation due mainly to higher financing costs incurred in the current quarter, whilst the investment holding segment saw an increase in revenue due mainly to higher interest income and a decrease in profit before taxation resulting from higher financing costs, partially offset by an increase in the Group’s share of results from associates.”
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves 1st Quarter Revenue of RM202 Million & Profit of RM78 Million
YTL Land recorded revenue of RM202.0 million for the 3 months ended 30 September 2017 compared to RM70.8 million for the preceding corresponding 3 months ended 30 September 2016, and profit for the period of RM78.4 million compared to RM11.1 million for the same period last year.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The increase in revenue and profit for the period was primarily due to a land disposal by Udapakat Bina Sdn Bhd, a wholly-owned subsidiary of YTL Land, following the acquisition by Pentadbir Tanah Kuala Lumpur for the Mass Rapid Transit project. Ongoing projects, namely Dahlia and U-Thant Place, continued to contribute to the Group’s revenue in the current financial quarter, with lower revenue recognised from The Fennel as the project is near completion”.
YTL HOSPITALITY REIT
YTL Hospitality REIT Records 1st Quarter Revenue of RM121 Million & Distributable Income of RM34 Million; Distribution of 1.9737 Sen per Unit Declared
YTL Hospitality REIT registered revenue of RM120.5 million for the 3 months ended 30 September 2017, an increase of 19% compared to RM101.1 million for the previous corresponding 3 months ended 30 September 2016, whilst net property income increased 16% to RM55.1 million this quarter over RM47.5 million for the same period last year. Income available for distribution grew to RM33.6 million for the period under review over RM28.9 million recorded in preceding year corresponding quarter, representing an increase of 16%, after adjustment for non-cash items.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “YTL Hospitality REIT registered better performance for the first quarter of the 2018 financial year. The Trust’s Australian Properties registered a 24% increase in revenue and 26% increase in net property income resulting mainly from higher room sales upon the completion of refurbishment works, as well as the appreciation of the Australian dollar during the current financial quarter. In Malaysia, the additional lease rental income from The Ritz Carlton Suite and Hotel Wings following the completion of refurbishment works contributed to the Trust’s improved results, with the Hilton Niseko Village in Japan also continuing to perform well”.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9737 sen per unit, the book closure and payment dates for which are 8 December 2017 and 29 December 2017, respectively. The total income distribution amounts to RM33.6 million, representing approximately 100% of the total distributable income for the financial quarter ended 30 September 2017.
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