YTL Corp Records 9-Month Revenue of RM14.9 Billion (US$5.0 Billion); Net Profit Grows 11% to RM944 Million (US$314 Million)
Kuala Lumpur, Thursday 23 May 2013
YTL Corporation Berhad announced today revenue of RM14,947.5 million (US$4,966.0 mn) for the 9 months ended 31 March 2013, a marginal decrease compared to RM15,108.0 million (US$5,019.3 mn) for the preceding corresponding 9 months ended 31 March 2012. Net profit attributable to shareholders increased 10.6% to RM944.2 million (US$313.7 mn) this year over RM854.0 million (US$283.7 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 a 10.6% increase in net profit to RM944 million on the back of just under RM15.0 billion in revenue for the 9 months ended 31 March 2013, marking another sound quarter. Lower revenue was due mainly to the completion of our property development projects in Singapore and more competitive pricing in the cement industry, but was offset by revenue increases in the hotels and utilities divisions, as well as higher contributions from our plant operation and maintenance (O&M) business.
“Meanwhile, the increase in net profit was contributed mainly by the Group’s hotels and power station O&M operations and an increase in share of profits from associated companies. The Group’s utilities division remains the largest contributor. During the quarter under review, lower sales in our merchant multi-utilities in Singapore and higher provisions for depreciation in the power generation segment impacted performance but this was offset by better performance by our water and sewerage operations under Wessex Water in the UK.”
YTL POWER INTERNATIONAL BERHAD
9-Month Revenue Grows 2% to RM11.9 Billion (US$4.0 Billion)
Net Profit Stands at RM765 Million (US$254 Million)
YTL Power’s revenue grew marginally by 1.9% to RM11,930.3 million (US$3,963.5 mn) for the 9 months ended 31 March 2013 compared to RM11,712.6 million (US$3,891.2 mn) for the same period last year, whilst net profit attributable to shareholders stood at RM765.1 million (US$254.2 mn) for the 3rd quarter of the financial year ending 30 June 2013, compared to RM822.8 million (US$273.4 mn) for the same period last year.
The increase in revenue arose mainly from the Group’s water and sewerage and mobile broadband operations, offset by lower sales in the merchant multi-utilities division. Meanwhile, higher profit contributed by the water and sewerage division, the increase in dividends received and share of profits from associates and favourable foreign exchange movements was impacted by higher provisions for depreciation and maintenance costs in the power generation division.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Registers Revenue of RM114 Million & Net Profit of RM7 Million
YTL Land’s revenue stood at RM113.9 million for the 9 months ended 31 March 2013, compared to RM446.2 million for the same period last year, whilst net profit attributable to shareholders was RM7.4 million for the 3rd quarter of the financial year ending 30 June 2013 over RM19.1 million for the same period last year. The decreases arose mainly as a result of timing differences of new project launches and the absence of revenue contributed by the offshore subsidiaries following the completion of the Group’s projects in Singapore.
YTL E-SOLUTIONS BERHAD
YTL e-Solutions Achieves Revenue of RM65 Million & Net Profit of RM28 Million
YTL e-Solutions registered an increase in revenue to RM65.3 million for the 9 months ended 31 March 2013 compared to RM63.7 million for the same period last year, whilst net profit attributable to shareholders increased 4.5% to RM28.2 million for the 3rd quarter of the financial year ending 30 June 2013 over RM26.9 million for the same period last year. The improvements were due mainly to higher digital media advertising income, as well as higher interest income on cash deposits.
STARHILL REAL ESTATE INVESTMENT TRUST
Starhill REIT Records Revenue of RM192.2 Million & Realised Income of RM76.6 Million
Starhill REIT achieved revenue of RM192.2 million for the 9 months ended 31 March 2013 compared to RM52.9 million for the previous corresponding period ended 31 March 2012, whilst realised income stood at RM76.6 million for the 3rd quarter under review, a marginal decrease over RM78.2 million for the same period last year.
The increase in revenue was mainly due to the recognition of revenue generated by the Trust’s recently-acquired assets in Australia, namely the Sydney Harbour, Brisbane and Melbourne Marriott hotels, which were acquired in November 2012, as well as the first full-year recognition of lease rental income from the hotels in Malaysia and Japan acquired by the Trust in November 2011 and December 2011, respectively.
Meanwhile, the decrease in profit was due to the absence of the one-off gain of RM26.1 million recognised by the Trust last year arising from the disposal of its convertible preference units (CPUs) in Starhill Global REIT in Singapore and interest income from the CPUs. After adjusting for the one-off gain, realised income for the 9 months ended 31 March 2013 of RM76.6 million represented a 46.9% increase over the adjusted income of RM52.2 million for the preceding corresponding 9 months ended 31 March 2012.
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