YTL Corp Records 10% Growth in 2nd Quarter Revenue to RM4.6 Billion (US$1.1 Billion) & 75% Jump in Profit After Tax to RM85 Million (US$21 Million) Kuala Lumpur, Thursday 25 February 2021 YTL Corporation Berhad's revenue increased by 10% to RM4,591.7 million (US$1,136.6 mn) for the quarter ended 31 December 2020 compared to RM4,178.8 million (US$1,034.4 mn) for the previous quarter ended 30 September 2020. Profit before tax grew 44% to RM196.9 million (US$48.7 mn) for the 3 months ended 31 December 2020 compared to RM136.8 million (US$33.9 mn) recorded in the previous quarter, whilst profit after tax saw a 75% jump to RM85.4 million (US$21.2 mn) this quarter over RM48.7 million (US$12.1 mn) million last quarter. YTL Corp Executive Chairman, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, KBE, CBE, FICE, said, ''The Group's improved profit was primarily due to the better performance in our merchant multiutilities business segment in Singapore which has seen a solid turnaround, in addition to improved performance in our construction and cement segments, which continued to navigate the ongoing movement control conditions to turn in strong performances for the quarter under review. ''Meanwhile, the Group's earnings before interest, tax, depreciation and amortisation (EBITDA) stood at RM2.0 billion for the first half of the 2021 financial year, remaining resilient in the face of the ongoing COVID-19 pandemic, supported by the strength of our utilities, cement and construction businesses.'' Comparison with Preceding Quarter
YTL POWER INTERNATIONAL BERHAD YTL Power Records 2nd Quarter Revenue of RM2.6 Billion (US$648 Million) & Profit Before Tax Increases 90% to RM207 Million (US$51 Million) YTL Power recorded an increase in revenue to RM2,616.6 million (US$647.7 mn) for the quarter ended 31 December 2020 compared to RM2,502.8 million (US$619.5 mn) for the previous quarter ended 30 September 2020. Profit before tax increased by 90% to RM206.6 million (US$51.1 mn) for the quarter ended 31 December 2020 compared to RM108.9 million (US$26.9 mn) in the previous quarter. Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, “The significant improvement in YTL Power’s profit for the current quarter under review resulted primarily from better performance recorded by YTL PowerSeraya Pte Limited, which carries out the Group’s merchant multi-utilities business in Singapore, due to higher retail and vesting gross margins, higher fuel oil tank leasing rates, lower finance costs and the successful recovery of receivables upon the resolution of a litigation case. ''The essential nature of YTL Power's businesses has ensured that these services continue to function despite restrictions imposed to curb the ongoing pandemic, and EBITDA for the first half of the 2021 financial year stood strong at RM1.4 billion, approximating performance for the same period last year.'' Comparison with Preceding Quarter
MALAYAN CEMENT BERHAD Malayan Cement Registers 2nd Quarter Revenue of RM350 Million (US$87 Million) & Loss Before Tax of RM6.4 Million (US$1.6 Million) with a 91% Improvement in Loss for the Period for the 6 Months ended 31 December 2020. Malayan Cement registered revenue of RM350.5 million (US$86.8 mn) for the 3 months ended 31 December 2020 compared to RM367.9 million (US$91.1 mn) for the previous quarter ended 30 September 2020 and recorded a loss before tax of RM6.4 million (US$1.6 mn) for the quarter under review compared to profit before tax of RM1.3 million (US$0.3 mn) for previous quarter ended 30 September 2020. Meanwhile, for the cumulative 6 months ended 31 December 2020, Malayan Cement recorded revenue of RM718.4 million (US$177.8 mn) compared to RM912.8 million (US$225.9 million) for the preceding corresponding 6 months ended 31 December 2019, whilst the loss for the period narrowed to RM6.8 million (US$1.7 mn) this year compared to RM72.3 million (US$17.9 mn) for the same period last year. Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, ''Malayan Cement recorded lower revenue of RM350.5 million as compared to the previous quarter due to a decline in domestic cement sales volumes, partially offset by an increase in cement and clinker exports in addition to higher cement sales by a Singapore subsidiary. The loss before tax was similarly due to the decline in domestic cement sales volumes resulting from the disruption to construction activities upon the reinstatement of the Conditional Movement Control Order in most parts of Peninsular Malaysia in early November 2020. ''Nevertheless, for the cumulative 6 months ended 31 December 2020, the Group registered EBITDA of RM96.1 million, with the loss for the period narrowing significantly to just RM6.8 million compared to a loss of RM72.3 million for the same period last year, an improvement of 91%. The improvement was due mainly to better margins on domestic cement sales, improved efficiencies in production costs and our other ongoing rationalisation efforts since YTL Cement acquired its majority stake in Malayan Cement in mid-2019.''
YTL HOSPITALITY REIT YTL Hospitality REIT Registers 2nd Quarter Revenue of RM79 Million & Distributable Income of RM17 Million Distribution of 1.8105 Sen per Unit Declared YTL Hospitality REIT recorded revenue of RM78.8 million for the current quarter ended 31 December 2020 compared to RM79.0 million for the previous quarter ended 30 September 2020. Net property income (NPI) stood at RM49.1 million in the current quarter under review over RM53.0 million for the previous quarter, whilst income available for distribution increased to RM17.4 million for the 3 months ended 31 December 2020 compared to RM16.8 million for the previous quarter. Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, ''In the Trust's hotel segment, revenue recorded from the Australian portfolio this quarter remained consistent with last quarter mainly due to participation of the Trust's hotels in the Australian Government's isolation programmes. However, the Australian portfolio incurred a decrease in NPI due to the cessation of government subsidies received by the Brisbane Marriott from October 2020. ''Meanwhile, in the property rental segment, revenue and NPI from the Malaysian and Japanese Properties remained at similar levels as compared the previous financial quarter.'' The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.8105 sen per unit for the 6 months from 1 July 2020 to 31 December 2020, the book closure and payment dates for which are 11 March 2021 and 31 March 2021, respectively. The total income distribution amounts to RM30.9 million, representing approximately 90% of the total distributable income for the financial period ended 31 December 2020. View individual reports below: |