YTL Expects Avg 20 per cent year profit rise

YTL Expects Avg 20 per cent year profit rise
Published: 31 January 2005

Diversified YTL Corp will grow profits, revenue and share price about 20 per cent a year up until 2020, Group Managing Director Francis Yeoh says, according to local news reports.

"So 20% compounded growth until year 2020. From 2000 to 2004, we averaged 31%.... It’s 31% (growth) in share price, accompanied by profit and turnover," Yeoh is quoted as saying. 

YTL is one of Malaysia’s biggest conglomerates, with businesses ranging from one of the country’s most lucrative private power production contracts, to property development and cement production.

He is  confident that YTL Cement Bhd.’s  increase in its market share to 26% of Malaysia’s cement market via its recent ownership of 64.8% of Perak-Hanjoong Simen Sdn. Bhd. will pay off well, the report says. 

"We are now the second-largest cement player after (buying the stake in) Perak-Hanjoong, and we are quite confident that YTL Cement, from MYR80 million net profit a year will jump to MYR180m a year after we take over," Yeoh said.