YTL Corp Registers 9-Month Revenue of RM12.7 Billion (US$3.5 Billion); Profit for the Period Stands at RM1.3 Billion (US$370 Million) Kuala Lumpur, Thursday 21 May 2015 YTL Corporation Berhad announced today revenue of RM12,705.8 million (US$3,539.2 mn) for the 9 months ended 31 March 2015, dropping from RM14,662.3 million (US$4,084.2 mn) for the preceding corresponding 9 months ended 31 March 2014. Profit for the period stood at RM1,326.6 million (US$369.5 mn) for the 9 months ended 31 March 2015, compared to RM1,926.9 million (US$536.7 mn) for the same period last year. YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, ''The Group's lower revenue and profit for the 9 months under review of the 2015 financial year, compared to the same period last year, reflects the more challenging environment in some of our major operating markets. ''In particular, increased competition in Singapore's electricity market continued to impact earnings in our utilities division. Profits from our cement operations in Malaysia were also affected by increased competition in the domestic market despite higher revenue owing to better performance in the concrete and quarry segments, and the acquisition of a new subsidiary in Singapore. ''The Group's hotel division registered better performance for the 9 months under review, contributed mainly by our hotels in Bath in the United Kingdom, and Hokkaido, Japan, as well as in Kuala Lumpur. Our property development business recorded lower revenue and profit due to the completion of launched phases of residential projects.'' YTL POWER INTERNATIONAL BERHAD YTL Power registered revenue of RM9,078.7 million (US$2,528.9 mn) for the 9 months ended 31 March 2015 compared to RM11,051.4 million (US$3,078.4 mn) for the same period last year, whilst profit for the period stood at RM707.8 million (US$197.2 mn) this year over RM752.3 million (US$209.6 mn) last year. Better performances in the Group's power generation and water and sewerage divisions were offset by lower vesting non-fuel margins and volumes, coupled with lower margins from retail contracts in the merchant multi-utilities division. Meanwhile, the mobile broadband division was affected by lower contributions from project sales. YTL LAND & DEVELOPMENT BERHAD YTL Land registered revenue of RM69.3 million for the 9 months ended 31 March 2015, compared to RM239.4 million for the same period last year, whilst profit for the period stood at RM13.1 million this year over RM20.0 million last year. Despite the profits recognised from the Group's Shorefront project in Penang and sales of car park bays, lower revenue and profit before taxation were mainly due to the completion of the Capers project in Sentul, and the absence of sales of completed properties in Singapore during the 9 months under review, compared to the same period last year. YTL E-SOLUTIONS BERHAD YTL e-Solutions' revenue increased 2.1% to RM66.5 million for the 9 months ended 31 March 2015 compared to RM65.1 million for the same period last year, whilst profit for the period increased to RM44.0 million this year over RM42.5 million last year. The increase in profit was due mainly to higher contributions from the content and digital media segment and higher interest income earned on cash deposits. YTL HOSPITALITY REIT YTL Hospitality REIT registered revenue of RM323.4 million and net property income of RM159.2 million for the 9 months ended 31 March 2015, changing marginally from RM324.6 million and RM157.7 million, respectively, for the preceding year corresponding period ended 31 March 2014. Profit before tax decreased by 15.0% to RM39.8 million for the 9 months ended 31 March 2015 compared to the adjusted profit before taxation for the preceding year corresponding period of RM46.8 million (after adjustment for depreciation charges on the Trust's Australian assets), mainly due to the increase in interest expense arising from the interest rate hike in July 2014 and foreign exchange losses due to the weakening of the Australian and Japanese currencies against the Ringgit. As a result, income available for distribution stood at RM74.8 million for the 9 months ended 31 March 2015 compared to RM86.4 million for the same period last year, a decrease of 13.4% after adjustment for non-cash items. The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.8616 sen per unit, the book closure and payment dates for which are 5 June 2015 and 26 June 2015, respectively. The Trust's total cumulative income distribution paid and declared for the 9 months ended 31 March 2015 is 5.6488 sen per unit, amounting to RM74.8 million, representing approximately 100% of the total distributable income for the 9 months to date. View the individual reports below: YTL POWER INTERNATIONAL BERHAD YTL E-SOLUTIONS BERHAD |