YTL Malaysia improves

YTL Malaysia improves
25 November 2005

YTL Corp Bhd has reported a significant jump in both revenue and net profit to RM1.36bn and RM183.7m respectively for the first quarter ended Sept 30 on improved operating results from its cement manufacturing and utilities business.  In an announcement to Bursa Malaysia yesterday, YTL said the group recorded a 15.2 per cent increase in revenue from RM1.18bn and a 13.9 per cent rise in net profit from RM161.3m in the previous year’s first quarter. Its pre-tax profit also rose to RM378.m from RM312.8m previously.

During the first quarter, profits from its cement manufacturing business rose to RM61.3m from RM44.2m. Its utilities business’ profit contribution stood at RM360m, up from RM332.4m a year ago. All other businesses under the group also contributed positively to its earnings in the quarter under review, except its hotel business, which saw a drop to RM1.05mil from RM1.29mil previously.

Group managing director Tan Sri Francis Yeoh said in a statement the utilities division continued to be the group’s “star performer”, generating solid revenue and profit. “Price stabilisation in the cement industry also boosted the performance of our cement division. Overall, the quarter’s results indicate that this is shaping up to be another strong year for the group,” he said. Meanwhile, YTL Power International Bhd’s first-quarter results saw a 13.5 per cent increase in net profit to RM178.5m from RM157.2m previously. This was achieved on the back of sales of RM926.7m, up 4.3 per cent from RM888.6m in the previous corresponding quarter.

Published under Cement News