Press Releases
YTL Corp Records 1st Quarter Revenue of RM4.5 Billion (US$1.3 Billion) & Profit of RM375 Million (US$113 Million)
Kuala Lumpur, Thursday 20 November 2014
YTL Corporation Berhad registered revenue of RM4,484.3 million (US$1,346.6 mn) for the 3 months ended 30 September 2014, compared to RM5,210.7 million (US$1,564.8 mn) for the preceding corresponding quarter ended 30 September 2013. Profit for the period decreased to RM375.2 million (US$112.7 mn) for the first quarter of the financial year ending 30 June 2015 over RM594.9 million (US$178.6 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group saw a cautious start to the 2015 financial year, with revenue of RM4.5 billion compared to RM5.2 billion for the same period last year. Revenue growth was contributed mainly by our construction, cement, hotels and information technology divisions, offset by lower revenues in the utilities and property segments.
“The Group’s profit of RM375 million for the quarter was satisfactory, albeit lower compared to the same period last year, as the domestic cement industry continues to see intense price competition, whilst our utilities division recorded lower units of electricity sold, coupled with lower contributions from retail contracts and the fuel oil trading segment in the Singapore market.
“Although our multi-utilities in Singapore have seen increased competition with new capacity continuing to come on-line across the industry, we are pursuing a range of strategies to address the changing market, including sourcing new steam clients to reinforce our position as an integrated energy company offering bundled utilities of electricity, steam and water, as well as bolstering the division’s jetty facilities and storage tanks to maintain our competitiveness and cater to a larger customer base.
“Overall, our outlook for the 2015 financial year remains positive despite challenging operating conditions, supported by the strength of our key utilities, cement, property and hotel divisions.”
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers Revenue of RM3.4 Billion (US$1.0 Billion)
Profit Increases to RM238 Million (US$71 Million)
YTL Power recorded revenue of RM3,358.7 million (US$1,008.6 mn) for the 3 months ended 30 September 2014 compared to RM3,981.1 million (US$1,195.5 mn) for the same period last year, whilst profit for the period increased to RM237.5 million (US$71.3 mn) this year, compared to RM235.7 million (US$70.8 mn) for the same period last year.
The decrease in revenue was principally due to fewer units of electricity sold, as well as lower prices from retail contracts under the multi-utilities division. The increase in profit was mainly due to higher generation of electricity sales from the power generation (contracted) segment and foreign exchange gains from investment holding activities.
The Group’s mobile broadband division, which operates the Yes 4G network, recorded a decrease in revenue and profit resulting mainly from lower contributions from project sales in the current quarter. Meanwhile, the Group’s water and sewerage business in the United Kingdom, continued to deliver strong results due to better pricing allowed by Ofwat, the economic regulator for the UK water industry.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Registers Revenue of RM27.3 Million & Profit of RM4.1 Million
YTL Land’s revenue decreased to RM27.3 million for the 3 months ended 30 September 2014, compared to RM116.9 million for the same period last year, whilst profit for the period decreased to RM4.1 million over RM4.5 million last year. The lower revenue and profit were due to lower progress billings from the Capers project in the Group’s Sentul urban regeneration development and the absence of sales of completed properties in the Group’s Sandy Island project in Singapore. However, the Fennel project, the latest phase of the Sentul development, contributed higher revenue in the current financial quarter.
YTL E-SOLUTIONS BERHAD
YTL e-Solutions Achieves Revenue of RM21.5 Million & Profit of RM14.5 Million
YTL e-Solutions registered a marginal decrease of 0.7% in revenue to RM21.5 million for the 3 months ended 30 September 2014 compared to the same period last year, whilst profit for the period stood at RM14.5 million for the quarter under review. The decrease in revenue arose mainly from lower revenue recorded from hardware sales, whilst the marginal decrease in profit was due to a lower share of profits from an associated company in the communications technology division.
YTL HOSPITALITY REIT
YTL Hospitality REIT Records Revenue of RM102.3 Million & Distributable Income of RM26.4 Million
Interim Distribution of 1.9175 Sen per Unit Declared
YTL Hospitality REIT registered revenue of RM102.3 million for the 3 months ended 30 September 2014, a marginal decrease over RM102.6 million for the same period last year. Profit before tax dropped mainly due to an increase in the depreciation charge on the Sydney Harbour, Brisbane and Melbourne Marriott hotels, acquired in November 2012, and increase in interest expense. In line with this, income available for distribution also decreased to RM26.4 million for the quarter compared to RM28.2 million last year.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9175 sen per unit, the book closure and payment dates for which are 5 December 2014 and 24 December 2014, respectively.
The total income distribution amounts to RM25.4 million, representing approximately 96% of the total distributable income for the financial period ended 30 September 2014.
Also read the individual reports below:
YTL Power International Berhad
YTL e-Solutions Berhad
