YTL Corp Records Half-Year Revenue of RM7.1 Billion (US$1.6 Billion) & Profit of RM572 Million (US$129 Million)
Kuala Lumpur, Thursday 23 February 2017
YTL Corporation Berhad registered revenue of RM7,114.2 million (US$1,598.7 mn) for the 6 months ended 31 December 2016 compared to RM8,386.8 million (US$1,884.7 mn) for the preceding corresponding 6 months ended 31 December 2015. Profit for the period decreased to RM572.1 million (US$128.6 mn) for the first half of the financial year ending 30 June 2017 over RM772.2 million (US$173.5 mn) for the same period last year.
YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The Group performed on pace for the first half of the 2017 financial year, as we continue to manage more difficult conditions in our key industries. The utilities division saw a decline in revenue and profit mainly due to the absence of revenue from the contracted power generation segment following the completion of our power purchase agreement in September 2015 and lower fuel oil prices in the multi-utilities division in Singapore, with the strengthening of Malaysian Ringgit against the British Pound affecting the results of the water and sewerage segment.
"Revenue and profit in the cement division decreased primarily as a result of competitive pricing and lower sales volumes, whilst in the construction division, the marginal decrease in revenue arose mainly from lower revenue recognition of construction contracts whilst the higher profit was due to better contract margins.
"In our property investment and development segment, higher revenue was mainly attributable to better site progress on The Fennel project, and ongoing contributions from the Dahlia and U-Thant Place projects, whilst profit was impacted by a fair value loss on an investment property, partially offset by unrealised foreign exchange gains on intercompany loans and a Japanese Yen denominated term loan recorded by Starhill Global REIT in Singapore. Meanwhile, our hotels segment recorded increases in revenue and profit owing mainly to better performance of The Majestic Hotel Kuala Lumpur and Niseko Village in Japan."
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers Half-Year Revenue of RM4.8 Billion (US$1.1 Billion) & Profit of RM341 Million (US$77 Million)
YTL Power recorded revenue of RM4,805.4 million (US$1,080.0 mn) for the 6 months ended 31 December 2016 compared to RM5,837.9 million (US$1,311.9 mn) for the 6 months ended 31 December 2015, whilst profit for the period decreased to RM340.8 million (US$76.6 mn) this year, compared to RM483.1 million (US$108.6 mn) for the same period last year.
The decrease was mainly due to the absence of revenue from the contracted power generation segment, lower units of electricity sold and lower trading volumes in the multi-utilities sub-segment, and the strengthening of the Ringgit against the British Pound, whilst the launch of nationwide 4G LTE services in the mobile broadband division resulted in an increase in revenue and lower losses recorded in the segment.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves Revenue of RM139.8 Million & Profit of RM23.6 Million
YTL Land recorded revenue of RM139.8 million for the 6 months ended 31 December 2016 compared to RM80.4 million for the 6 months ended 31 December 2015, and profit for the period of RM23.6 million compared to RM22.4 million for the same period last year. The increases in revenue and profit were due mainly to better site progress on The Fennel, Dahlia and U-Thant Place projects currently under development.
YTL HOSPITALITY REIT
YTL Hospitality REIT Records Half-Year Revenue of RM220.3 Million
Distributable Income Increases 10.8% to RM58.5 Million
YTL Hospitality REIT registered revenue of RM220.3 million for the 6 months ended 31 December 2016, an increase of 2.7% compared to RM214.5 million for the previous corresponding 6 months ended 31 December 2015, whilst net property income increased 4.8% to RM104.5 million for the half year under review over RM99.7 million for the same period last year.
Income available for distribution grew to RM58.5 million for the period under review over RM52.8 million recorded in preceding year corresponding period, representing an increase of 10.8%, after adjustment for non-cash items.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an advance distribution of 1.9181 sen per unit in respect of the financial period from 1 October 2016 to 14 December 2016, which was paid on 12 January 2017. For the subsequent financial period from 15 December 2016 to 31 December 2016, an interim distribution of 0.3459 sen per unit has been declared, the book closure and payment dates for which are 10 March 2017 and 30 March 2017, respectively.
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YTL POWER INTERNATIONAL BERHAD
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