Malaysia’s YTL Corp Bhd made a net profit of RM161.3m (US$42.5m) on turnover of RM1.178bn (US$310m) in the first quarter ended Sept 30, on strong contribution from utilities and cement manufacturing.
“Excluding an exceptional gain of RM112m in the corresponding period last year, net profit grew 29.7 per cent in the first quarter,’’ the group said in a statement. YTL registered a net profit of RM236m during the corresponding quarter a year earlier on one-off gains from the disposal of quoted investments.
The group, whose business activities include power generation, water, property development, hotels, cement and information technology, registered an 8.8 per cent increase in revenue in the three months under review. Independent power producer YTL Power International Bhd, which has interests in a power transmission company in Australia and in a water business in the UK, saw a slight increase in net profit to RM157m, with sales in the first three months growing 9 per cent to RM899m. YTL Cement Bhd recorded a 55 per cent growth in net profit to RM35m on a 20.6 per cent growth in revenue to RM157.5m. The better performance was attributed to the consolidation of Pahang Cement Sdn Bhd, which became a wholly-owned subsidiary earlier this year.