YTL Corp Registers 3rd Quarter Revenue of RM4.2 Billion (US$1.0 Billion) & 9% Growth in Profit After Tax to RM93 Million (US$23 Million)
Kuala Lumpur, Friday 28 May 2021
YTL Corporation Berhad registered revenue of RM4,219.8 million (US$1,019.3 mn) for the quarter ended 31 March 2021 compared to RM4,591.7 million (US$1,109.1 mn) for the previous quarter ended 31 December 2020.
Profit before tax remained consistent at RM194.7 million (US$47.0 mn) for the 3 months ended 31 March 2021, a marginal 1.1% decline compared to RM196.9 million (US$47.5 mn) for the previous quarter. Profit after tax grew 9.4% to RM93.5 million (US$22.6 mn) this quarter compared to RM85.4 million (US$20.6 mn) last quarter.
YTL Corp Executive Chairman, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, KBE, CBE, FICE, said, ''The Group's profit after tax increased by 9.4% to RM93.5 million for the quarter under review compared to the previous quarter ended 31 December 2020. We have continued to see good recovery, particularly in our key utilities division which has registered a marked turnaround in the merchant multi-utilities sub-segment in Singapore, as well as our cement and construction businesses.
''Meanwhile, the Group's EBITDA remained solid at RM3.1 billion for the cumulative 9 months ended 31 March 2021, despite challenging circumstances faced during the ongoing COVID-19 pandemic, supported primarily by our utilities, cement and construction business segments.''
Comparison with Preceding Quarter
YTL POWER INTERNATIONAL BERHAD
YTL Power registered an increase in revenue to RM2,636.5 million (US$636.8 mn) for the current quarter ended 31 March 2021 compared to RM2,616.6 million (US$632.0 mn) for the previous quarter ended 31 December 2020. Profit before tax stood at RM168.6 million (US$40.7 mn) for the quarter under review compared to RM206.6 million (US$49.9 mn) for the last quarter.
The Board of Directors of YTL Power declared an interim cash dividend of 2.0 sen per ordinary share in respect of the financial year ending 30 June 2021, the book closure and payment dates for which are 15 June 2021 and 29 June 2021, respectively. The interim dividend represents a yield of approximately 3% based on the prevailing share price of RM0.70 per share.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, ''YTL Power's revenue for the quarter under review remained strong at RM2.6 billion, whilst the lower profit before tax was due mainly to the absence of the gain from a litigation award recorded in the previous quarter ended 31 December 2020.
''For the cumulative 9 months of the financial year to date, YTL Power registered revenue of RM7.8 billion compared to RM8.3 billion for the previous corresponding 9 months ended 31 March 2020, with profit for the period jumping 65% to RM363.6 million for the 9 months ended 31 March 2021 over RM220.7 million for the same period last year. Throughout the ongoing pandemic, the essential nature of the services provided by our utilities has continued to underscore the resilience of these businesses.''
MALAYAN CEMENT BERHAD
Malayan Cement registered a 6.9% increase in revenue to RM374.8 million (US$90.5 mn) for the quarter ended 31 March 2021 compared to RM350.5 million (US$84.7 mn) for the previous quarter ended 31 December 2020, and profit before tax of RM4.0 million (US$1.0 mn) for the current quarter compared to a loss before tax of RM6.4 million (US$1.5 mn) last quarter.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, ''Malayan Cement's revenue increased 7% to RM374.8 million this quarter over the previous quarter, with profit before tax of RM4.0 million, resulting from increased domestic cement and clinker sales, coupled with improved export levels. Although the Movement Control Order was reinstated on January 2021, the restrictions have been less stringent, allowing works on main public infrastructure projects and
YTL HOSPITALITY REIT
YTL Hospitality REIT recorded revenue of RM79.0 million for the current quarter ended 31 March 2021 compared to RM78.8 million for the previous quarter ended 31 December 2020. Net property income stood at RM48.4 million for the current quarter compared to RM49.1 million last quarter, whilst income available for distribution increased to RM19.0 million for the quarter under review compared to RM17.4 million for the last quarter.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, ''Revenue from the hotel segment for the current quarter approximated that of the preceding quarter due mainly to the participation of the hotels in our Australian portfolio in the government isolation group business. However, the decrease in the net property income from the Australian properties was due to the cessation of government subsidies for the Brisbane Marriott from October 2020 onwards.
''In our property rental segment, revenue and net property income from the Malaysian and Japanese properties for the current quarter ended 31 March 2021 remained relatively consistent with the previous quarter ended 31 December 2020.''
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