YTL Corp records 11.3% net profit decline

Malaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments.

"The outlook for the cement industry remains highly competitive among industry players and the segment is expected to achieve satisfactory performance for FY19," stated the company.

Company revenue in the first quarter was up 4.3 per cent YoY to MYR4.09bn from MYR3.92bn.