Kuala Lumpur, May 24, 2018
YTL Corporation Berhad registered higher revenue of RM11,708.8 million (US$2,956.8 mn) for the 9 months ended 31 March 2018 compared to RM10,830.6 million (US$2,735.0 mn) for the preceding corresponding 9 months ended 31 March 2017. Profit before tax stood at RM1,213.8 million (US$306.5 mn) compared to RM1,261.6 million (US$318.6 mn) last year, whilst profit for the period decreased to RM902.6 million (US$227.9 mn) for the first 3 quarters of the financial year ending 30 June 2018, compared to RM1,011.3 million (US$255.4 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group registered an 8% increase in revenue to RM11.7 billion for the 9 months ended 31 March 2018, contributed mainly by the utilities, cement, hotels and construction businesses. Our utilities segment performed well for the period under review, with increases in revenue and profit before tax contributed by the contracted power generation and water and sewerage sub-segments.
“The increase in revenue in the Group’s cement business was driven by higher sales volumes in all sub-segments, although profit before tax was impacted by higher production and finance costs, as well as competitive pricing in the domestic market. The construction segment registered an increase in revenue due to better site progress, but recorded lower profit before tax owing to lower construction margins and higher operating costs.
“Meanwhile, the improved performance of the hotels segment was contributed mainly by The Hotel Stripes in Kuala Lumpur, the Sydney Harbour Marriott in Australia and 3 newly acquired hotels in the United Kingdom, offset by unrealised foreign exchange losses on intercompany balances and pre-opening and training expenses incurred by The Ritz-Carlton, Koh Samui, a new hotel in Thailand. In the Group’s management services segment, the increase in revenue was due mainly to higher interest income, whilst the loss before taxation incurred was primarily the result of the absence of one-off adjustments relating to the accounting treatment of a loan restructuring recorded by an associated company and higher finance costs.”
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers 9-Month Revenue of RM7.8 Billion (US$2.0 Billion) & Profit of RM485 Million (US$123 Million)
YTL Power recorded higher revenue of RM7,809.3 million (US$1,972.0 mn) for the 9 months ended 31 March 2018 compared to RM7,191.8 million (US$1,816.1 mn) for the preceding corresponding 9 months ended 31 March 2017. Profit before tax increased 2.2% to RM658.3 million (US$166.3 mn) compared to RM644.3 million (US$162.7 mn) last year, although profit for the period decreased to RM485.4 million (US$122.6 mn) this year, compared to RM531.1 million (US$134.1 mn) for the same period last year.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping said, “YTL Power saw an 8.6% growth in revenue for the 9 months under review, arising mainly from our contracted power generation segment which saw supply commence on 1 September 2017 from Paka Power Plant under the new short-term power purchase agreement, as well as better performance in our water and sewerage segment in the United Kingdom following the opening of the retail market for non-household customers, coupled with the price increase allowed by the regulator and lower operating costs.
“Profit for the period was impacted by lower margins recorded on electricity sales and oil tank leasing activities and higher finance costs recorded in the multi-utilities business segment in Singapore and an increase in finance costs and reclassification of certain overhead costs in the Group’s investment holding segment.”
YTL LAND & DEVELOPMENT BERHAD
YTL Land Registers 9-Month Revenue of RM214 Million & Profit of RM7 Million
YTL Land recorded revenue of RM214.1 million for the 9 months ended 31 March 2018 compared to RM284.3 million for the preceding corresponding 9 months ended 31 March 2017, and profit for the period of RM7.0 million compared to RM42.6 million for the same period last year.
The decrease in revenue was mainly due to lower progress billings from The Fennel, Dahlia and U-Thant projects which are nearing completion, whilst the decrease in profit for the period arose from lower unrealised foreign exchange gains following the weakening of the Singapore Dollar during the period, coupled with finance costs related to the Group’s 3 Orchard By-The-Park project in Singapore.
YTL HOSPITALITY REIT
YTL Hospitality REIT Achieves 9-Month Revenue of RM384 Million & Distributable Income of RM101 Million; Distribution of 1.9378 Sen per Unit Declared
YTL Hospitality REIT achieved revenue of RM384.4 million for the 9 months ended 31 March 2018, a 13.5% increase compared to RM338.6 million for the previous corresponding 9 months ended 31 March 2017, whilst net property income increased 17.9% to RM190.7 million for the 9 months under review over RM161.8 million for the same period last year. Income available for distribution grew to RM100.6 million for the period under review compared to RM92.0 million last year, representing an increase of 9.3%, after adjustment for non-cash items.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping said, “YTL Hospitality REIT’s performance remained sound for the first 9 months of the 2018 financial year. The Trust’s portfolio in Australia, comprising the Sydney Harbour, Brisbane and Melbourne Marriott hotels, achieved a 12% growth in revenue and a 16% increase in net property income arising mainly from the increase in room sales following the completion of refurbishment works.
“Meanwhile, the Trust’s Malaysian properties recorded increases of 21% in revenue and 22% in net property income due to the acquisition of The Majestic Hotel Kuala Lumpur, combined with the increased rental income from The Ritz Carlton Suite and Hotel wings following the completion of refurbishment works. In Japan, Hilton Niseko Village continued to perform well, with a 5% growth in revenue and a 6% growth in net property income.”
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9378 sen per unit, the book closure and payment dates for which are 8 June 2018 and 29 June 2018, respectively. The total income distribution amounts to RM33.0 million, representing approximately 100% of the total distributable income for the financial quarter ended 31 March 2018. The Trust’s cumulative distribution for the 9 months ended 31 March 2018 is 5.9032 sen per unit, totaling RM100.6 million and representing approximately 100% of total distributable income.
Also view the individual reports below:
YTL Corporation Berhad
YTL Power International Berhad
YTL Land & Development Berhad
YTL Hospitality REIT