YTL Corp Registers Half-Year Revenue of RM8.4 Billion (US$2.0 Billion); Profit for the Period Stands at RM772 Million (US$185 Million)Kuala Lumpur, Thursday 25 February 2016 YTL Corporation Berhad announced today revenue of RM8,386.8 million (US$2,011.2 mn) for the 6 months ended 31 December 2015, dropping from RM8,705.6 million (US$2,087.7 mn) for the preceding corresponding half-year ended 31 December 2014. Profit for the period stood at RM772.2 million (US$185.2 mn) for the first half of the financial year ending 30 June 2016, compared to RM932.1 million (US$223.5 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 performance remained relatively steady for the first 6 months of the 2016 financial year, particularly in view of the challenging operating conditions that continue to persist in some of our key markets and coupled with the completion of the power purchase agreement for our Malaysian power stations in September 2015. Revenue growth for the 6 months under review was contributed mainly by our cement, construction, property, hotels and management services divisions, offset mainly by lower revenues in the utilities segment. ''In addition to the absence of revenue from the contracted power generation business, our utilities division was also impacted by lower vesting volumes in the multi-utilities segment in Singapore. Meanwhile, our cement division turned in a strong set of results, attributable to better performance in the concrete and cement sub-segments. Our property and hotels businesses also continued to perform well for the half-year under review.'' YTL POWER INTERNATIONAL BERHAD YTL Power registered revenue of RM5,837.9 million (US$1,400.0 mn) for the 6 months ended 31 December 2015 compared to RM6,398.3 million (US$1,534.4 mn) for the preceding year corresponding period ended 31 December 2014, whilst profit for the period stood at RM483.1 million (US$115.8 mn) this year over RM487.6 million (US$116.9 mn) for the same period last year. The Group’s water and sewerage division recorded increases in revenue and profit due to lower operating costs and the weakening of the Ringgit against the British Pound. In the power generation division, the significant drop in revenue arose upon the successful completion on 30 September 2015 of the Group’s power purchase agreement for its Malaysian power stations. Meanwhile, revenue and profit in the merchant multi-utilities business in Singapore was impacted by lower fuel oil prices, coupled with lower vesting volumes, whilst the Group’s local mobile broadband division was affected by lower sales and higher operating costs. YTL LAND & DEVELOPMENT BERHAD YTL Land’s revenue increased to RM80.4 million for the 6 months ended 31 December 2015, compared to RM47.5 million for the preceding year corresponding period ended 31 December 2014, whilst profit for the period increased to RM22.4 million this year compared to RM6.0 million last year. The improved financial performance was due to better site progress on the Group’s Fennel project in Sentul, an unrealised foreign exchange gain on amounts due from the Group’s Singapore subsidiaries and a share of profits from a joint-venture project, The Shorefront, in Penang. YTL E-SOLUTIONS BERHAD YTL e-Solutions registered revenue of RM42.8 million for the 6 months ended 31 December 2015 compared to RM44.4 million for the preceding year corresponding period ended 31 December 2014, whilst profit for the period decreased to RM28.8 million this year over RM29.6 million last year, with the decrease arising mainly due to lower revenue recognized from the content and digital media segment and lower interest income on cash deposits during the half-year under review. YTL HOSPITALITY REIT YTL Hospitality REIT registered revenue of RM214.5 million for the 6 months ended 31 December 2015, approximating the preceding year corresponding period’s revenue of RM215.5 million, whilst net property income decreased to RM99.7 million for the 6 months ended 31 December 2015 compared to RM104.8 million for the same period last year. The Group recorded a loss before tax of RM51.9 million for the half-year under review, compared to profit before tax of RM26.5 million for the same period last year. The decrease in profit before tax in the current financial period was due to an unrealised foreign currency translation loss relating to an Australian Dollar denominated loan and initial recognition of a fair value loss on interest rate swaps. However, income available for distribution increased to RM52.8 million for the 6 months ended 31 December 2015 compared to RM51.1 million for the same period last year, an increase of 3.3% 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 1.9175 sen per unit, the book closure and payment dates for which are 11 March 2016 and 31 March 2016, respectively. The Trust’s income distribution for the quarter under review amounts to RM25.4 million, whilst the total cumulative income distribution paid and declared for the half-year ended 31 December 2015 is 3.8350 sen per unit, amounting to RM50.8 million, representing approximately 96% of the total distributable income. Also read the individual reports below: YTL E-Solutions Berhad |