YTL Corp Records 1st Quarter Revenue of RM4.4 Billion (US$1.0 Billion) & Profit of RM319 Million (US$73 Million)
Kuala Lumpur, 26 November 2015
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 Corp Records Full-Year Revenue of RM16.8 Billion (US$4.2 Billion), Profit for the Period Stands at RM1.8 Billion (US$437 Million)
Kuala Lumpur, 20 August 2015
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The 2015 financial year has been a fairly challenging one for our Group, particularly in the merchant multi-utilities division of our utilities business, which remains the Group’s largest segment. Ongoing excess generation capacity in Singapore’s electricity market coupled with lower vesting volumes continued to add pressure to both margins and sales volumes in the merchant multi-utilities business, although this was partially offset by better performance in the water and sewerage division owing to the strengthening of the British Pound against the Malaysian Ringgit.
“In the contracted power generation division, our current power purchase agreement under YTL Power Generation Sdn Bhd is due to expire in September 2015, but we are in discussions to supply power from our existing Paka power station under the short term capacity bid called by the Malaysian Energy Commission. Discussions on the terms are currently ongoing and upon completion, a new power purchase agreement is expected to be signed for the period from March 2016 to December 2018.
“In the cement division, higher revenue was contributed by the concrete and quarry businesses, in addition to consolidation of revenue of a subsidiary acquired during the year, whilst the decrease in profit was attributed to intense competition in the industry and higher production costs.
“Meanwhile, the Group’s hotel division registered better performance for the year under review, due to the higher unrealised foreign exchange gains from our international hotels, whilst our property development business recorded lower revenue and profit on the absence of sales of completed properties, and also lower net fair value gain on investment properties.”