YTL Corp Records 3rd Quarter Revenue of RM4.3 Billion (US$1.0 Billion) & Profit Before Tax of RM276 Million (US$66 Million) YTL Plaza Kuala Lumpur, May 31, 2019 YTL Corporation Berhad recorded revenue of RM4,312.7 million (US$1,031.8 mn) for the quarter ended 31 March 2019 as compared to RM4,554.6 million (US$1,089.6 mn) for the preceding quarter ended 31 December 2018. Profit before tax increased to RM276.1 million (US$66.1 mn) for the current quarter ended 31 March 2019 compared to RM224.2 million (US$53.6 mn) for the previous 3 months ended 31 December 2018, whilst net profit attributable to shareholders grew to RM85.8 million (US$20.5 mn) for the 3 months under review, compared to RM44.8 million (US$10.7 mn) last quarter. YTL Corp Executive Chairman Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group performed well for the current quarter under review. Lower revenue for the quarter was mainly the result of lower contributions from the construction and cement divisions. However, the Group registered a 23% increase in profit before tax for the quarter, with net profit rising 91%, due mainly to better performance in the hotels and management services segments”. For the cumulative 9 months ended 31 March 2019, YTL Corp registered a 10.8% increase in revenue to RM12,955.9 million (US$3,099.5 mn), compared to RM11,691.5 million (US$2,797.0 mn) for the preceding corresponding 9 months ended 31 March 2018, whilst profit for the period stood at RM634.8 million (US$151.9 mn) for the 9 months ended 31 March 2019, compared to RM901.4 million (US$215.7 mn) for the same period last year. YTL POWER INTERNATIONAL BERHAD YTL Power recorded revenue of RM2,887.6 million (US$690.8 mn) for the quarter ended 31 March 2019, declining marginally compared to RM2,927.4 million (US$700.3 mn) for the previous quarter ended 31 December 2018. However, profit before tax increased by 29.7% to RM167.3 million (US$40.0 mn) for the current quarter compared to RM129.0 million (US$30.9 mn) for the previous quarter. Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Power, said, “The increase in profit before tax in the current quarter was mainly due to the absence of a one-off recognition of an allowance for the impairment of receivables following a court decision on outstanding litigation in the merchant multi utilities segment recognised in the previous quarter. Higher profit before tax in the current quarter was also the result of better returns in the investment holdings segment, moderated by the lower returns in the water and sewerage segment”. For the cumulative 9 months ended 31 March 2019, YTL Power registered a 10.5% increase in revenue to RM8,618.4 million (US$2,061.8 mn) compared to RM7,798.6 million (US$1,865.7 mn) for the preceding corresponding 9 months ended 31 March 2018. Profit for the period stood at RM391.0 million (US$93.5 mn) for the cumulative 9 months under review over RM485.5 million (US$116.1 mn) for the same period last year. YTL LAND & DEVELOPMENT BERHAD YTL Land recorded revenue of RM53.3 million for the quarter ended 31 March 2019 compared to RM72.4 million for the preceding quarter ended 31 December 2018. A loss before tax of RM40.4 million was recorded in the current quarter as compared to loss before tax of RM19.7 million recorded in the previous quarter. Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Land, said, “YTL Land recorded lower revenue and a higher loss before tax due to lower sales of completed properties of the 3 Orchard By-The-Park project in Singapore and lower unrealised forex gains on amounts due from the Group’s Singapore subsidiaries, following the weakening of Singapore Dollar during the quarter under review”. YTL HOSPITALITY REIT YTL Hospitality REIT recorded revenue of RM125.9 million for the quarter ended 31 March 2019 compared to RM132.5 million for the previous quarter ended 31 December 2018. Net property income decreased slightly to RM67.4 million this quarter compared to RM69.3 million for the previous quarter. Distributable income remained relatively stable at RM32.6 million for the quarter under review compared to RM33.0 million for the previous quarter. Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “The Trust’s Australian Properties registered a decrease in revenue and net property income due to the refurbishment exercise carried out at Brisbane Marriott which commenced in the first quarter, coupled with the weakening of the Australian Dollar against the Malaysian Ringgit. “The Trust’s Japanese properties continued to perform well, with higher net property income for the current quarter, whilst revenue and net property income from the Trust’s Malaysian Properties also remained stable for the quarter under review.” For the cumulative 9 months ended 31 March 2019, YTL Hospitality REIT recorded revenue of RM372.2 million, compared to RM384.4 million for the preceding corresponding 9 months ended 31 March 2018, whilst net property income increased to RM193.0 million for the 9 months ended 31 March 2019 over RM190.7 million for the same period last year. Income available for distribution stood at RM98.4 million for the 9 months under review compared to RM100.6 million last year. The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9116 sen per unit, the book closure and payment dates for which are 18 June 2019 and 28 June 2019, respectively. The total income distribution amounts to RM32.6 million, representing approximately 100% of the total distributable income for the current quarter ended 31 March 2019, whilst the total income distribution paid and declared for the cumulative 9 months ended 31 March 2019 is 5.7722 sen per unit, totalling RM98.4 million and representing approximately 100% of the total distributable income. View individual reports below: |