YTL Corp Records Full-Year Revenue of RM20 Billion (US$6 Billion); Net Profit Grows 13% to RM1.3 Billion (US$406 Million) Kuala Lumpur, Thursday 22 August 2013 YTL Corporation Berhad announced today revenue of RM19,978.6 million (US$6,072.5 mn) for the 12 months ended 30 June 2013, a marginal 1.1% decrease compared to RM20,195.8 million (US$6,138.5 mn) for the preceding corresponding 12 months ended 30 June 2012. However, net profit attributable to shareholders grew 13.0% to RM1,334.2 million (US$405.5 mn) this year over RM1,181.1 million (US$359.0 mn) last year. YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group achieved another strong performance for the 2013 financial year, registering a 13% increase in net profit to RM1.3 billion and revenue of just under RM20.0 billion. The marginal decrease in revenue was due mainly to more competitive pricing in the cement industry, timing differences of new project launches and the completion of residential projects in Singapore in our property development division, as well as lower fuel oil trading volumes recorded in the Group’s merchant multi-utilities division. “However, this was offset by revenue increases from our hotel and construction operations, as well as higher contributions from the Group’s plant operation and maintenance (O&M) business. New additions to the Group’s hotel division this year included the Sydney Harbour, Brisbane and Melbourne Marriott hotels in Australia, and the opening of The Majestic Hotel Kuala Lumpur and Gaya Island Resort in Borneo, all “Meanwhile, the increase in net profit was contributed mainly by the Group’s property development, hotels and power station O&M operations. Our utilities division, which remains the Group’s largest contributor, saw improvements during the last quarter of the year despite a provision for impairment of other receivables in the power generation sector that impacted performance. However, better margins on
YTL Power recorded revenue of RM15,815.9 million (US$4,807.3 mn) for the 12 months ended 30 June 2013 compared to RM15,870.3 million (US$4,823.8 mn) for the same period last year, whilst net profit attributable to shareholders stood at RM1,072.3 million (US$325.9 mn) this year, compared to RM1,232.2 million (US$374.5 mn) last year. The 0.3% decrease in revenue was due mainly to a provision for impairment of other receivables in the contracted power generation division and lower fuel oil trading volumes in the division’s merchant multi-utilities operations. Improvements in net profit owing to better pricing in the water and sewerage business, a one-off gain on derecognition of financial assets, a gain on the acquisition of an associate company and improved margins on electricity sales were impacted by the earlier mentioned impairment provision and high fixed operating costs in the Group’s mobile broadband operations, although the growing subscriber base has continued cushion the division’s losses, resulting in lower losses this year compared to last year.
YTL Land’s revenue stood at RM184.7 million for the 12 months ended 30 June 2013, compared to RM581.4 million for the same period last year, whilst net profit attributable to shareholders was RM25.2 million over RM25.0 million last year. The decreases arose mainly due to timing differences of new project launches and the absence of revenue contributed by offshore subsidiaries following the completion of projects.
YTL e-Solutions registered an increase in revenue to RM87.9 million for the 12 months ended 30 June 2013 compared to RM86.1 million for the same period last year, whilst net profit attributable to shareholders was RM32.0 million compared to RM34.5 million last year. The increase in revenue arose mainly from higher digital media advertising sales, whilst the decrease in View individual reports below : YTL Corporation Berhad |