YTL Land & Development Bhd’s net profit for the first quarter (1Q) ended Sept 30, 2006, was almost halved to RM2.94 million from RM5.58 million a year ago, mainly due to lower progress billings recognised from the ongoing projects and change in the timing of launches of new projects.

It told Bursa Malaysia on Dec 19 that revenue fell 28% to RM24.01m from RM33.49m previously. Earnings per share was 0.35 sen compared with 0.66 sen previously.

Meanwhile, YTL Cement Bhd posted a net profit of RM37.76m for the first quarter ended Sept 30, 2006, down 6% from RM40.07 million a year ago.
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