YTL Corp Records 9-Month Revenue of RM14.7 Billion (US$4.5 Billion)
Profit Jumps 41% to RM1.9 Billion (US$597 Million); Interim Dividend of 10% or 1 Sen per Share Declared
Kuala Lumpur, Tuesday 20 May 2014
YTL Corporation Berhad announced today revenue of RM14,662.3 million (US$4,539.4 mn) for the 9 months ended 31 March 2014, a marginal 1.9% decline compared to RM14,947.5 million (US$4,627.7 mn) for the preceding corresponding 9 months ended 31 March 2013. However, profit for the period jumped 40.5% to RM1,926.9 million (US$596.6 mn) for the 9 months ended 31 March 2014, compared to RM1,371.4 million (US$424.6 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The Group has continued to perform well, recording revenue of RM14.7 billion and a 40.5% increase in profit to RM1.9 billion for the first 3 quarters of the 2014 financial year. Our cement, property development and investment and hotels divisions all registered stronger revenues, offsetting decreases in our construction and utilities divisions.
"Higher profit for the period was due primarily to better performance of the concrete and quarry businesses in our cement division, contributions from the uniquely-styled Fennel and Capers condominium developments in our Sentul urban regeneration project and consolidation of results from Starhill Global REIT in Singapore, which owns prime retail properties across Singapore, Malaysia, Australia and Japan. In addition, better performance in the water and sewerage, mobile broadband and power generation sub-segments of our utilities division also bolstered profit for the nine months under review."
The Board of Directors of YTL Corp also declared an interim dividend of 10% or 1 sen per ordinary share of 10 sen, the book closure and payment dates for which are 4 June 2014 and 19 June 2014, respectively.
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers 9-Month Revenue of RM11.1 Billion (US$3.4 Billion)
Profit Stands at RM752 Million (US$233 Million)
YTL Power registered revenue of RM11,051.4 million (US$3,421.5 mn) for the 9 months ended 31 March 2014 compared to RM11,930.3 million (US$3,693.6 mn) for the same period last year, whilst profit for the period stood at RM752.3 million (US$232.9 mn) this year over RM761.6 million (US$235.8 mn) last year.
Better performances in the Group's power generation, water and sewerage and mobile broadband divisions were offset by lower units of electricity sold and lower fuel oil trading and vesting contract volumes in the merchant multi-utilities division, as well as higher unrealised foreign exchange losses. However, the Group's power generation business in Malaysia and water and sewerage business in the United Kingdom continued to perform well, whilst the Yes mobile broadband platform which operates across Malaysia continued to see solid growth in subscription levels, further mitigating the division's start-up losses in building the network for scale from the outset.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves 9-Month Revenue of RM239 Million & Profit of RM20 Million
YTL Land's revenue increased 110.3% to RM239.4 million for the 9 months ended 31 March 2014, compared to RM113.9 million for the same period last year, whilst profit for the period increased to RM20.0 million this year over RM11.6 million last year. The improved performance was mainly due to contributions from the Group's Fennel and Capers condominium projects in its Sentul urban regeneration development and sales of completed projects in its Sandy Island development in Singapore.
YTL E-SOLUTIONS BERHAD
YTL e-Solutions Registers 9-Month Revenue of RM65 Million & Profit of RM42 Million
YTL e-Solutions registered a marginal 0.2% decrease in revenue to RM65.1 million for the 9 months ended 31 March 2014 compared to RM65.3 million for the same period last year, whilst profit for the period stood at RM42.5 million this year over RM45.4 million last year. The decrease in profit was due mainly to the accrual of a contribution amounting to RM3.38 million to the Universal Service Provision fund established under the Communications and Multimedia Act 1988 by the Malaysian Communications and Multimedia Commission (MCMC).
YTL HOSPITALITY REIT (formerly known as Starhill Real Estate Investment Trust)
9-Month Revenue Grows 69% to RM325 Million
Distributable Income Increases 13% to RM86 Million
Interim Distribution of 2.0804 Sen per Unit Declared
YTL Hospitality REIT achieved revenue of RM324.6 million for the 9 months ended 31 March 2014, an increase of 68.9% compared to RM192.2 million for the same period last year, whilst net property income increased 16.9% to RM157.7 million compared to 134.9 million last year. The improved performance was due mainly to the recognition of revenue generated by the Trust's Sydney Harbour, Melbourne and Brisbane Marriott hotels in Australia for the full 9 months ended 31 March 2014, compared to just 4 months for the same period last year.
Meanwhile, distributable income grew to RM86.4 million for the 9 months ended 31 March 2014 over RM76.6 million last year, representing an increase of 12.7%.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 2.0804 sen per unit, the book closure and payment dates for which are 4 June 2014 and 24 June 2014, respectively.
The Trust's income distribution for the quarter under review amounts to RM27.6 million, representing approximately 90% of the distributable income for the quarter under review, whilst the total cumulative income distribution for the 9 months ended 31 March 2014 is 5.9765 sen per unit, amounting to RM79.2 million, representing approximately 92% of the total distributable income for the 9 months ended 31 March 2014.
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