YTL Corp Records Full-Year Revenue of RM15.4 Billion (US$3.8 Billion), Profit for the Period Grows 10% to RM1.9 Billion (US$471 Million)
YTL Corp Declares 9.5 Sen Interim Dividend; YTL Power Declares 10 Sen Interim Dividend
Kuala Lumpur, Thursday 25 August 2016
YTL Corporation Berhad announced today revenue of RM15,370.0 million (US$3,832.9 mn) for the 12 months ended 30 June 2016, decreasing from RM16,754.7 million (US$4,178.2 mn) for the preceding corresponding 12 months ended 30 June 2015.
Profit for the period increased 9.8% to RM1,889.3 million (US$471.1 mn) for year under review, compared to RM1,721.0 million (US$429.2 mn) last year, whilst net profit attributable to shareholders decreased to RM927.9 million (US$231.4 mn) this year over RM1,017.6 million (US$253.8 mn) last year.
The Board of Directors of YTL Corp declared an interim dividend of 9.5 sen or 95% per ordinary share of 10 sen for the financial year ended 30 June 2016. The book closure and payment dates for the dividend are 31 October 2016 and 15 November 2016, respectively.
YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "For the 12 months ended 30 June 2016, the Group recorded revenue of RM15.4 billion and profit of RM1.9 billion. Our utilities division registered a decrease in revenue and profit owing to the absence of revenue from the contracted power generation segment, following the completion of our power purchase agreement in September 2015, coupled with lower vesting volumes in the merchant multi-utilities segment in Singapore. We have been awarded a project for supply of power from our existing facility in Paka under the short term capacity bid called by the Malaysian Energy Commission, and negotiations on this are currently ongoing.
"Our water and sewerage business in the UK turned in another strong performance, and the Group also saw an increase in share of profits from our associate, Jawa Power in Indonesia, due to an increase in deferred tax credits on revaluation of the power plant.
"The improved performance of our construction division arose from higher revenue recognition of construction contracts and better contract margins, whilst the cement division recorded lower revenue and profit due to competitive pricing, lower sales volumes and higher finance costs expensed following commercial operation of a plant.
"Meanwhile, the Group's property development business achieved higher revenue on the back of the acquisition of Myer Centre Adelaide in Australia by Starhill Global REIT in Singapore, and better site progress from the Fennel project in Sentul, although profit was impacted by the completion of projects during the last financial year and unrealised foreign exchange losses on an Australian Dollar denominated term loan recorded by YTL Hospitality REIT.
"In our hotel division, higher revenue was contributed by Niseko Village in Japan and The Gainsborough Bath Spa in the UK, whilst the decrease in profit arose mainly from unrealised foreign exchange losses on inter-company balances."
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers Full-Year Revenue of RM10.2 Billion (US$2.6 Billion)
Profit for the Period Increases 26% to RM1.2 Billion (US$289 Million)
Interim Dividend of 10 Sen (20%) per Share Declared
YTL Power registered revenue of RM10,240.5 million (US$2,553.7 mn) for the 12 months ended 30 June 2016 compared to RM11,858.1 million (US$2,957.1 mn) for the preceding corresponding 12 months ended 30 June 2015. Profit for the period increased 26.0% to RM1,159.8 million (US$289.2 mn), compared to RM920.4 million (US$229.5 mn) last year, whilst net profit attributable to shareholders increased to RM1,044.7 million (US$260.5 mn) this year over RM918.8 million (US$229.1 mn) last year.
Revenue from the merchant multi-utilities segment was impacted by excess generation capacity and lower vesting volumes in the Singapore electricity market, offsetting better performance in the water and sewerage segment which resulted from the weakening of the Malaysian Ringgit against the British Pound. The mobile broadband division saw an increase in revenue resulting from the continuous growth in the subscriber base.
The higher profit was principally attributable to the better performance of the water and sewerage segment and a higher share of results from Jawa Power in Indonesia, which arose due to an increase in deferred tax credits on the revaluation of its power plant.
In the contracted power generation division, the current power purchase agreement of YTL Power Generation Sdn Bhd (YTLPG) expired in September 2015. YTLPG has been awarded the project for supply of power from its existing facility in Paka under the short term capacity bid called by the Malaysian Energy Commission, and negotiations are currently ongoing.
The Board of Directors of YTL Power declared an interim dividend of 10 sen or 20% per ordinary share of 50 sen for the financial year ended 30 June 2016, the book closure and payment dates for which are 31 October 2016 and 15 November 2016, respectively.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves Full-Year Revenue of RM204 Million & Profit of RM28 Million
YTL Land's revenue increased by 107% to RM203.6 million for the 12 months ended 30 June 2016, compared to RM98.4 million last year, whilst profit for the period increased to RM27.5 million this year compared to RM24.6 million last year. The increase in revenue was attributable to better site progress on the Fennel in the Group's Sentul development, whilst the increase in profit was contributed by Dahlia, a new development comprising double-storey link homes in Ipoh, and the Fennel, partially offset by lower project management fees received.
YTL E-SOLUTIONS BERHAD
YTL e-Solutions Registers Full-Year Revenue of RM85 Million & Profit of RM57 Million
YTL e-Solutions' revenue decreased to RM84.9 million for the 12 months ended 30 June 2016 compared to RM87.5 million last year, whilst profit for the period decreased marginally to RM57.0 million this year over RM57.3 million last year. The decrease in profit was due mainly to lower revenue recognized from the content and digital media segment and lower interest income on cash deposits during the financial year under review.
On 25 July 2016, CIMB Investment Bank Berhad, on behalf of YTL Corp, announced a voluntary share exchange offer to acquire the remaining shares in YTL e-Solutions not already owned by YTL Corp. The offer is being undertaken at an offer price of RM0.55 for each ordinary share of RM0.10 in YTL e-Solutions, to be satisfied through the issuance of ordinary shares of RM0.10 each in YTL Corp at an issue price of RM1.65. This translates into an exchange ratio of approximately 0.333 YTL Corp share for each YTL e-Solutions tendered.
The offer document setting out the terms of the offer, including the form of acceptance and transfer, was sent to shareholders of YTL e-Solutions on 15 August 2016 and the independent advice circular has been sent today.
Please view the individual reports below: