Press Releases
YTL Corp Registers Half-Year Revenue of RM7.8 Billion (US$2.0 Billion) & Profit of RM604 Million (US$154 Million)
Kuala Lumpur, Friday 23 February 2018
YTL Corporation Berhad registered higher revenue of RM7,829.1 million (US$1,992.1 mn) for the 6 months ended 31 December 2017 compared to RM7,114.2 million (US$1,810.2 mn) for the preceding corresponding 6 months ended 31 December 2016. Profit for the period increased to RM604.5 million (US$153.8 mn) for the first half of the financial year ending 30 June 2018 over RM572.1 million (US$145.6 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group’s revenue increased by 10% to RM7.8 billion for the first half of the 2018 financial year, whilst profit before taxation grew 12% to RM836 million compared to the same period last year. Our utilities segment saw increases in revenue and profit before taxation resulting from the commencement of supply on 1 September 2017 from Paka Power Station under the new power purchase agreement in the contracted power generation sub-segment, coupled with better performance in the mobile broadband division following the launch of nationwide 4G LTE services last year.
“Our cement business recorded an increase in revenue on the back of higher sales volumes in the cement and quarry divisions, although profit before tax was affected by production cost increases and competitive pricing in the domestic market. The construction segment registered improved revenue due to better site progress, offset by lower construction margins.
“Meanwhile, in the hotels segment, the increase in revenue was contributed mainly by The Hotel Stripes in Kuala Lumpur, Sydney Harbour Marriott Hotel in Australia and 3 new hotels in the United Kingdom, with the decrease in profit before tax arising due to unrealised foreign exchange losses on intercompany balances.”
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers Half-Year Revenue of RM5.2 Billion (US$1.3 Billion) & Profit of RM320 Million (US$81 Million)
YTL Power recorded higher revenue of RM5,219.2 million (US$1,328.1 mn) for the 6 months ended 30 December 2017 compared to RM4,805.4 million (US$1,222.7 mn) for the preceding corresponding 6 months ended 31 December 2016. Profit for the period decreased to RM319.8 million (US$81.4 mn) this year, compared to RM340.8 million (US$86.7 mn) for the same period last year.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “Our water and sewerage segment in the United Kingdom continued to see improvements in revenue owing to the opening of the retail market for non-household customers and the price increase allowed by the industry regulator, although the segment’s profit before tax decreased due to higher finance costs.
“In the power generation segment, supply from our Paka Power Plant commenced on 1 September 2017 under a new power purchase agreement, contributing to profit before taxation for the current financial year.
“Our multi utilities business segment in Singapore continues to weather challenging market conditions, with revenue and profit before tax being impacted by lower margins recorded on electricity sales and oil tank leasing, in addition to higher finance costs. Meanwhile, the mobile broadband network segment continued to see improving revenue and lower operating costs on the back of the launch last year of the platform’s nationwide 4G LTE services.”
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves Half-Year Revenue of RM209 Million & Profit of RM45 Million
YTL Land recorded revenue of RM209.1 million for the 6 months ended 31 December 2017 compared to RM139.8 million for the preceding corresponding 6 months ended 31 December 2016, and profit for the period of RM44.5 million compared to RM23.6 million for the same period last year. The increases in revenue and profit for the period were due mainly to the land disposal by Udapakat Bina Sdn Bhd, a wholly-owned subsidiary of YTL Land, following the acquisition by Pentadbir Tanah Kuala Lumpur for the Mass Rapid Transit project.
YTL HOSPITALITY REIT
YTL Hospitality REIT Records Half-Year Revenue of RM255 Million & Distributable Income of RM68 Million; Distribution of 1.9917 Sen per Unit Declared
YTL Hospitality REIT registered revenue of RM255.2 million for the 6 months ended 31 December 2017, an increase of 16% compared to RM220.3 million for the previous corresponding 6 months ended 31 December 2016, whilst net property income increased 18% to RM122.8 million for the 6 months under review over RM104.5 million for the same period last year. Income available for distribution grew to RM67.6 million for the period under review compared to RM58.5 million last year, representing an increase of 16%, after adjustment for non-cash items.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “YTL Hospitality REIT performed well for the first half of the 2018 financial year. The Trust’s Australian Properties recorded a 16% increase in revenue and 20% increase in net property income compared to the same period last year, mainly due to the increase in room sales subsequent to the completion refurbishment works.
“The Malaysian properties achieved increases in both revenue and net property income of about 16% due to the acquisition of The Majestic Hotel Kuala Lumpur, coupled with increased rental income from The Ritz Carlton Suite and Hotel wings following the completion of refurbishment works. In Japan, Hilton Niseko Village also continued to contribute to the better performance of the Trust.”
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9917 sen per unit, the book closure and payment dates for which are 12 March 2018 and 30 March 2018, respectively. The total income distribution amounts to RM33.9 million, representing approximately 100% of the total distributable income for the financial quarter ended 31 December 2017.
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