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YTL Corporation Berhad Full-Year Profit Hits RM1 Billion (USD280 Million)
 
YTL CORPORATION BERHAD REVENUE INCREASES 58% TO RM4 BILLION (USD1 BILLION)
Profit Soars 31%; 15% Dividend Recommended

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YTL Corporation Berhad (“YTL Corp”) achieved an excellent year, with profit topping RM1.0 billion for the year ended 30 June 2003. Profit before taxation grew to RM1,049 million (USD276 mil) for the year ended 30 June 2003, an impressive 31% increase over RM799 million (USD210 mil) for the previous financial year. Net profit for the year under review jumped 42% to RM515 million (USD136 mil).

The Group registered revenue of RM4,048 million (USD1,065 mil) for the year, an increase of 58% over RM2,568 million (USD676 mil) for the year ended 30 June 2002, whilst earnings per share grew by 42%.

YTL Corp attained its highest ever profits and revenue this year, due mainly to the consolidation of a full year’s financial results of the Wessex Water Limited group (“Wessex Water”), acquired in May 2002 for an enterprise value of ?1.24 billion. In less than a year, Wessex Water has contributed substantially to the Group’s profitability.

All business units have performed extremely well and the Group remains firmly grounded in its investments in regulated infrastructure assets, serving over 10 million customers worldwide. The Group’s major investments now span three continents, from Wessex Water, a concession in perpetuity in the United Kingdom (UK), and ElectraNet, the 200-year concession to operate the South Australian electricity transmission grid, to 21-year concessions for the Paka and Pasir Gudang power plants and the 60-year Express Rail Link concession in Malaysia.

As a result of this strategy, over 40% of the Group’s revenues are now derived from operations in Australia and the UK.

In light of the Group’s performance for the year under review, the Board of Directors of YTL Corp has recommended a dividend of 15%, in line with the Group’s policy of rewarding shareholders and enhancing shareholder value. This is the 19th consecutive year that YTL Corp has declared dividends to shareholders.
 
YTL POWER INTERNATIONAL BERHAD REVENUE GROWS 112% TO RM3 BILLION (USD840 MILLION)
Profit Soars 29%; 20% Dividend Recommended

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For the year ended 30 June 2003, YTL Power International Berhad (“YTL Power”) achieved a turnover of RM3,183 million (USD838 mil), a prodigious increase of RM1,679 million (USD442 mil) or 111.7% over RM1,504 million (USD396 mil) last year.

YTL Power’s profit before taxation increased by 29.4% to RM837 million (USD220 mil) for the year ended 30 June 2003 as compared to the last financial year. Profit after taxation increased by 24.2% to RM603 million (USD159 mil) and earnings per share increased by 23.4% compared to last year.

YTL Power’s record growth in turnover and profit is attributed predominantly to the consolidation of a full year’s financial results of Wessex Water, which has already seen the value of its regulatory asset base increase by 8.9% to £1.47 billion (RM9.1 billion) from £1.36 billion a year ago.

As a result of the Group’s strategy of investing in long-term regulated assets in stable economies, 58% of YTL Power’s revenue is now derived from its operations in Australia and the UK. YTL Power’s income-generating activities have also been successfully diversified with 55% of revenue now being contributed from water and sewerage operations.

In light of the Group’s performance for the year under review, the Board of Directors of YTL Power has recommended a dividend 20%, in line with the Group’s policy of rewarding shareholders and enhancing shareholder value. This is the 6th consecutive year that YTL Power has declared dividends to shareholders.
 
YTL CEMENT BERHAD MAKES RM428 MILLION (USD113 MILLION)
20% Dividend Recommended

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For the year ended 30 June 2003, YTL Cement Berhad (“YTL Cement”) achieved a turnover of RM428 million (USD113 mil), representing an increase of 1.4% from RM423 million (USD111 mil) in the corresponding year ended 30 June 2002. Despite challenging market conditions and the increased cost of raw materials, YTL Cement’s profit before taxation increased to RM80.8 million (USD21.3 mil) in the year ended 30 June 2003 as compared to RM79.9 million (USD21.0 mil) in the last financial year.

The improvement in financial performance is attributable to the enhanced quality of the Group’s products and services in the market which continue to generate high levels of demand, especially in its niche markets for pre-cast and ready-mixed concrete.

In light of the Group’s performance for the year under review, the Board of Directors of YTL Cement has recommended a dividend of 20%, in line with the Group’s policy of rewarding shareholders and enhancing shareholder value. This is the 9th year that YTL Cement has declared dividends to shareholders.
 
YTL LAND & DEVELOPMENT BERHAD REVENUE GROWS BY 77%
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YTL Land & Development Berhad (“YTL L&D”) recorded a 77.4% growth in revenue for the year ended 30 June 2003 to RM41.4 million (USD10.9 mil) from RM23.4 million (USD6.2 mil) last year. Meanwhile, profit before taxation decreased marginally to RM20.7 million (USD5.4 mil) from RM22.0 million (USD5.8 mil) during the year ended 30 June 2002. This decrease is due to an exceptional gain of RM10.2 million last year arising from the disposal of subsidiaries. At the operating level, therefore, YTL L&D’s profit before taxation increased by 76.4% for the year ended 30 June 2003.

This year’s higher earnings have resulted due to the completion of YTL L&D’s reorganisation process which involved the acquisition of RM262 million worth of new property development assets and enabled the Group to streamline its property development activities.

With the acquisitions now completed, YTL L&D has been able to focus fully on its stable of projects, including the much lauded Sentul development which this year saw the successful launch of The Park at Sentul West and The Maple luxury condominiums.
 
YTL E-SOLUTIONS BERHAD PROFIT SOARS 57%
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YTL e-Solutions Berhad (“YTL e-Solutions”) continued its stellar performance during the year under review, recording revenue of RM25.9 million (USD6.8 mil), an increase of 44.8% over the financial year ended 30 June 2002. For the current financial year, YTL e-Solutions registered a consolidated profit before taxation of RM13.8 million (USD3.6 mil), or a 57.0% increase over the year ended 30 June 2002.

YTL e-Solutions’ growth in terms of financial performance and operational activities is due mainly to a strategy of using and developing integrated information management and business intelligence systems and other solutions and innovations. YTL e-Solutions’ recent acquisitions are testaments of the success of this strategy which has so far resulted in new incubatees, such as YTL Info Screen Sdn Bhd to develop digital display content and solutions, YTL Intellectual Mission Sdn Bhd to provide e-learning products and Hipmobile (M) Sdn Bhd, a multimedia messaging service (MMS) provider, one of the largest potential growth markets in the mobile telecommunications industry.

In addition, subsidiary Extiva Communications Sdn Bhd which undertakes Alternative Voice Service Provider (AVSP) and telephony services, this month launched “ExtiSave” IDD pre-paid cards and “ExtiLoad” vending machines. ExtiSave offers a feature unique to the existing IDD pre-paid market by enabling customers to top-up and reload value to their cards.


YTL ANNOUNCES HIGH DIVIDENDS

The YTL Group has consistently declared income-driven dividends of not less than 5% for 18 consecutive years since its listing on the Kuala Lumpur Stock Exchange in 1985. As a result of its excellent financial performance to date and the prospects generated from its strategy of acquiring high-quality regulated assets, the Group is confident that it will be able to sustain this substantial increase in dividends over the next 5 years.

This is in line with the YTL Group’s policy of rewarding shareholders and enhancing shareholder value, in order to attain a dividend policy akin to those of leading international companies. This policy has also enabled the Group to sustain dividend yields which are generally higher than prevailing interest rates, thereby further rewarding shareholders by increasing the value of their investment.

 

Dividend

Share Price (RM)*

Dividend Yield

YTL Corp

15%

4.38

1.7%

YTL Power

20%

3.26

6.1%

YTL Cement

20%

3.96

5.1%

* As at 27/8/03

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