YTL reports significant rise in net profit, Malaysia

YTL reports significant rise in net profit, Malaysia
Published: 26 February 2010

YTL Corp Bhd recorded a 328.8% jump in net profit to RM216.2m for the second quarter ended Dec 31, 2009 from RM50.4m a year earlier due to better performance of its utilities and cement businesses.
 
Its pre-tax profit rose 80.8% to RM514.7mil for the second quarter versus RM284.7m in the previous corresponding quarter.
 
ECM Libra analyst Bernard Ching said the results were above expectations due to lower-than-expected interest expense on borrowings taken mainly for its utilities division.
 
“The performance of all its divisions were pretty much in line with expectations,” he said.
 
Earnings per share (EPS) increased to 12.04 sen for the quarter under review compared with 3.35 sen in the previous corresponding quarter.
 
Revenue grew 141.7% YoY to RM3.9bn from RM1.6bn mainly due to the consolidation of the newly acquired PowerSeraya Ltd Group in Singapore by its power arm, YTL Power Bhd.