Kuala Lumpur, 26 August 2004
YTL CORPORATION BERHAD
RECORDS 100% SURGE IN NET PROFIT TO RM713 MILLION (USD188 MILLION)
SALES UP 9% TO RM4.4 BILLION (USD1.2 BILLION)
15% DIVIDEND DECLARED
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YTL Corporation Berhad today announced record revenue of RM4,395 million (USD1,156 mil) for the financial year ended 30 June 2004, a 9.1% increase over RM4,027 million (USD1,060 mil) in the previous financial year. Profit before taxation increased 38.0% to RM1,159 million (USD305 mil), over RM840 million (USD221 mil) for the previous financial year ended 30 June 2003.
Meanwhile, net profit surged 101% to RM713 million (USD188 mil) from RM355 million (USD93 mil) in 2003. Earning per share more than doubled to 49.69 sen from 24.44 sen last year.
Growth was driven by improved performance in all major sectors in both local and foreign operations. Revenue from operations in Malaysia contributed 53% of total revenue whilst operations in Australia and the United Kingdom contributed 47%.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, YTL Managing Director, said: “This was an excellent year for the YTL Group, enabling us to post record revenues and profits. Profit and earnings per share have grown in double digits for the 2004 financial year, resulting from the earnings power of our core businesses and the strength of our business model which focuses on regulated assets operating under long term concessions”.
“YTL’s subsidiaries continued to perform strongly across the board, placing the Group on solid footing for the 2005 financial year. We remain focused on achieving long term profitability and value creation for our shareholders”.
The Group has also embarked on several sound opportunities for expansion with the cement division completing the acquisition of Pahang Cement Sdn Bhd and announcing a proposal to acquire a 32.1% stake in Perak-Hanjoong Simen Sdn Bhd, and the power division announcing the proposed acquisition of a 35% stake in PT Jawa Power in Indonesia.
The Board of Directors of YTL Corp has recommended a first and final dividend of 15%. This is the 20th consecutive year that YTL Corp has declared dividends and exemplifies the Group’s policy of rewarding shareholders and enhancing shareholder value.