Press Releases
YTL Corp Records 1st Quarter Revenue of RM3.5 Billion (US$814 Million) & Profit of RM263 Million (US$61 Million)
Kuala Lumpur, Thursday 17 November 2016
YTL Corporation Berhad registered revenue of RM3,492.2 million (US$814.0 mn) for the 3 months ended 30 September 2016 compared to RM4,448.4 million (US$1,036.9 mn) for the preceding corresponding quarter ended 30 September 2015. Profit for the period decreased to RM263.1 million (US$61.3 mn) for the first quarter of the financial year ending 30 June 2017 over RM319.3 million (US$74.4 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “Our Group has continued to perform satisfactorily, weathering the ongoing challenging conditions in some of our key operating markets. Our utilities division registered a decrease in revenue and profit owing to the absence of revenue from the contracted power generation segment, following the completion of our power purchase agreement in September 2015, coupled with lower fuel oil prices in the merchant multi-utilities division in Singapore and the strengthening of the Ringgit against the British Pound, impacting the water and sewerage sub-segment.
“The cement division saw lower revenue and profit due to competitive pricing and lower sales volumes, whilst the construction segment recorded an improvement in profit owing to better contract margins.
“Our hotels segment also continued to perform well and, in September, completed the acquisition of The Glasshouse Hotel, located in the heart of Edinburgh and part of Marriott International’s Autograph Collection, and the Academy Hotel, comprising five restored Georgian townhouses in London’s West End.
“We are currently in the process of completing the share exchange offer for YTL e-Solutions, which was delisted from the ACE Market on 4 November 2016. The compulsory acquisition of the remaining shares of YTL e-Solutions is expected to be completed in December this year, following which, it will become a wholly-owned subsidiary of YTL Corp.”
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers Revenue of RM2.3 Billion (US$546 Million)
Profit Stands at RM151 Million (US$35 Million)
YTL Power recorded revenue of RM2,340.6 million (US$545.6 mn) for the 3 months ended 30 September 2016 compared to RM3,220.0 million (US$750.6 mn) for the same period last year, whilst profit for the period decreased to RM150.6 million (US$35.1 mn) this year, compared to RM174.1 million (US$40.6 mn) for the same period last year.
The decrease was mainly due to the absence of revenue from the contracted power generation segment and lower contributions from PT Jawa Power, the Group’s associated company in Indonesia, partially offset by improved performance of the mobile broadband division.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves Revenue of RM70.8 Million & Profit of RM11.1 Million
YTL Land recorded revenue of RM70.8 million for the 3 months ended 30 September 2016 compared to RM29.6 million for the same period last year, and profit for the period of RM11.1 million compared to RM17.3 million for the same period last year. The increase in revenue was due mainly to better site progress on The Fennel, Dahlia and U-Thant Place projects currently under development, whilst profit was impacted by unrealised foreign exchange gains on amounts due from the Group’s Singapore subsidiaries, following the weakening of the Singapore Dollar during the quarter under review.
YTL HOSPITALITY REIT
YTL Hospitality REIT Records Revenue of RM101.1 Million & Distributable Income of RM28.9 Million
Interim Distribution of 2.0528 Sen per Unit Declared
YTL Hospitality REIT registered revenue of RM101.1 million for the 3 months ended 30 September 2016, an increase of 3.8% compared to RM97.4 million for the same period last year, whilst net property income increased 7.5% to RM47.5 million this quarter over RM44.2 million for the same period last year.
Income available for distribution grew to RM28.9 million this quarter over RM27.2 million recorded in preceding year corresponding quarter, representing an increase of 6.3%, after adjustment for non-cash items.
The Group recorded a loss before tax of RM41.2 million for the current quarter under review, an improvement of 19.7% compared to a loss before tax of RM51.3 million for the same period last year. The improvement was due mainly to reduced foreign currency translation losses on an Australian Dollar denominated term loan.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 2.0528 sen per unit, the book closure and payment dates for which are 2 December 2016 and 23 December 2016, respectively. The total income distribution amounts to RM27.2 million, representing approximately 94% of the total distributable income for the financial quarter ended 30 September 2016.
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