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YTL Corp Full-Year Revenue Grows 85% to RM16.4 Billion (US$5.2 Billion); Profit for the Period Jumps 17% to RM1.6 Billion (US$519 Million)

Kuala Lumpur, 19 August 2010

YTL Corporation Berhad (“YTL Corp”) today announced an 84.5% growth in revenue to RM16,408.4 million (US$5,176.2 mn, based on the prevailing exchange rate of US$1.00:RM3.17) for the 12 months ended 30 June 2010, compared to RM8,892.1 million (US$2,805.1 mn) for the preceding corresponding year ended 30 June 2009.

Profit before taxation grew 40.8% to RM2,312.7 million (US$729.6 mn) for the financial year ended 30 June 2010, over RM1,642.2 million (US$518.0 mn) (after adjusting for RM372 million being the recognition of excess of fair value of an associate entity’s identifiable assets, liabilities and contingent liabilities over the cost of investment of the said associate and RM274.5 million of fair value gain on investment properties) recorded last year. Meanwhile, profit for the period increased to RM1,645.8 million (US$519.2 mn) this year, a jump of 17.4% compared to last year.

The Board of Directors of YTL Corp also recommended for shareholders’ approval a first and final dividend of 10 sen per ordinary share of 50 sen each or 20% gross less Malaysian tax for the financial year ended 30 June 2010, the book closure and payment dates for which will be determined at a later date.

YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group achieved an excellent set of results for the 2010 financial year, with the significant growth in revenue and profit arising primarily as a result of the maiden consolidation of a full-year’s results of PowerSeraya in Singapore which we acquired in March 2009. Revenue exceeded the RM16 billion mark for the first time in our history.

“During the fourth quarter, the Group completed the first stage of a rationalisation of our retail and hospitality assets via Starhill REIT, which involved the disposal by the Trust of Starhill Gallery and it parcels in Lot 10 Shopping Centre to Starhill Global REIT in Singapore. Starhill REIT is now embarking on a rebranding exercise to transform the Trust into a pure-play hospitality REIT, focusing on a single class of hotel and hospitality-related assets.

“Other developments during the quarter included the completion of our acquisition of Niseko Village, a prime winter and summer destination located at the south-eastern foothills of Mt.
Niseko An’nupuri in Hokkaido, Japan. Our vision for Niseko Village is to realise the resort’s untapped potential by creating a unique, sophisticated village atmosphere offering private
houses and ski-in ski-out estates, and featuring all the hallmarks of the YTL brand that we have successfully employed at our other luxury resorts.”


YTL POWER INTERNATIONAL BERHAD
Full-Year Revenue Up 121% to RM13.4 Billion (US$4.2 Billion)
87% Increase in Profit for the Period to RM1.2 Billion (US$382 Million)
1.875 sen per share Final Single Tier Dividend Recommended

YTL Power registered a 120.6% increase in revenue for the 12 months ended 30 June 2010 to RM13,442.9 million (US$4,240.7 mn) compared to RM6,093.4 million (US$1,922.2 mn) for the previous corresponding 12 months ended 30 June 2009. Profit before taxation grew to RM1,694.0 million (US$534.4 mn) for the 12 months ended 30 June 2010, an increase of 22.2% over RM1,386.9 million (US$437.5 mn) last year, whilst profit for the period soared 87.4% to RM1,212.0 million (US$382.3 mn) compared to RM646.6 million (US$204.0 mn) for the previous financial year ended 30 June 2009.

The increase in revenue and profit before tax was due principally to the consolidation of results from PowerSeraya Limited, which YTL Power acquired in March 2009, as well as the recognition during the last financial year of a one-off deferred tax charge relating to Wessex Water Limited, the Group’s wholly-owned subsidiary in the UK.

The Board of Directors of YTL Power also recommended for shareholders’ approval a fourth and final single tier dividend of 1.875 sen or 3.75% per ordinary share of 50 sen each for the financial year ended 30 June 2010. The book closure and payment dates in respect of the aforesaid dividend will be determined by the Board at a later date. Together with the 3 interim single tier dividends of 7.5% each declared earlier this financial year, this represents an annualised dividend yield of approximately 5.8% (13.125 sen per share).


YTL CEMENT BERHAD
Fourth Quarter Revenue Stands at RM1.8 Billion (US$581 Million)
17% Growth in Profit for the Period to RM309 Million (US$97 Million)
1.875 sen per share Final Single Tier Dividend Recommended

YTL Cement’s revenue for the 12 months ended 30 June 2010 stood at RM1,841.7 million (US$581.0 mn), compared to RM1,968.3 million (US$620.9 mn) for the previous corresponding quarter ended 30 June 2009. Despite the decrease in revenue, profit before taxation grew 13.9% to RM410.4 million (US$129.5 mn) this year, compared to RM360.3 million (US$113.7 mn) for the same period last year, whilst profit for the period increased by 16.7% to RM309.0 (US$97.5 mn) this year over RM264.9 million (US$83.6 mn) for the previous financial year. The increase in profit before tax was substantially attributed to a gain from the disposal of the company’s 21.48% stake in Jurong Cement Limited during the third quarter of the 2010 financial year.

The Board of Directors of YTL Cement recommended for shareholders’ approval a fourth and final single tier dividend of 1.875 sen or 3.75% per ordinary share of 50 sen each for the financial year ended 30 June 2010. The book closure and payment dates in respect of the aforesaid dividend will be determined by the Board at a later date. Together with the 3 interim single tier dividends of 7.5% each declared earlier this financial year, this represents an annualised dividend yield of approximately 3.3% (13.125 sen per share).


YTL LAND & DEVELOPMENT BERHAD
Fourth Quarter Revenue Stands at RM245 Million
Profit for the Period Grows to RM18 Million

YTL Land & Development reported revenue of RM244.9 million for the 12 months ended 30 June 2010, compared to RM279.2 million for the same period last year. Profit before taxation grew to RM27.7 million this year, whilst profit for the period increased to RM18.3 million over RM0.8 million last year.

The decline in revenue was mainly due to lower progress recognition from both the property development and construction segments whilst the increase in profit before taxation was mainly contributed by The D6 under the Group’s Sentul project and The Centrio under the Pantai Hillpark project, higher operating income receivable and reduced operating costs incurred during the quarter under review.


YTL E-SOLUTIONS BERHAD
21% Growth in Revenue to RM44 Million
Profit Jumps 316% to RM12.9 Million
1 sen per share First and Final Dividend Recommended

YTL e-Solutions recorded a 20.6% increase in revenue to RM44.0 million for the 12 months ended 30 June 2010, over RM36.5 million for the same period last year. Profit before tax grew 145.3% to RM16.7 million this year, compared to RM6.8 million for the previous year ended 30 June 2009, whilst profit for the period increased by 316.1% to RM12.9 million over RM3.09 million last year. This was attributed mainly to fee income derived from a spectrum sharing agreement relating to its 2.3 GHz Worldwide Interoperability for Microwave Access (WiMAX) spectrum and lower operating expenses.

The Board of Directors of YTL e-Solutions recommended for shareholders’ approval a first and final dividend of 1 sen per ordinary share of 10 sen each comprising 0.745 sen gross less income tax and 0.255 sen single tier for the financial year ended 30 June 2010. The book closure and payment dates in respect of the aforesaid dividend will be determined by the Board at a later date.


Also view individual reports below:

YTL Corporation Berhad

YTL Power International Berhad

YTL Cement Berhad

YTL Land & Development Berhad

YTL e-Solutions Berhad




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