Friday, 24 February 2012

YTL net profit up 10.4pc in 2011

Roziana Hamsawi
Published: 2012/02/24

KUALA LUMPUR: YTL Corp Bhd has registered a net profit of RM489.2 million in the six months ended December 31 2011, up 10.4 per cent from the previous corresponding period.

This was posted against a 10.8 per cent growth in revenue to RM9.87 billion.

In a statement, group managing director Tan Sri Francis Yeoh said the increase in revenue was due mainly to "the ongoing resilience of our multi-utility businesses in Malaysia, the UK and Singapore."

He added that overall, the group's cement and multi-utility operations, which are the major contributors, continued to register sound performance.

The multi-utility businesses comprised power generation (in both contracted and merchant markets) and power transmission in Malaysia, Singapore, Indonesia and Australia, water and sewerage services in the UK and merchant multi-utility businesses in Singapore.

YTL Power International Bhd's net profit was up 5.2 per cent to RM560 million compared to RM532.1 million in the same period last year.

Its half-year revenue grew 9.4 per cent to RM7.73 billion.

The division's "Yes" mobile broadband operations, however, registered a loss, substantially due to the upfront implementation costs to build the 4G network for scale.

YTL Power has declared a 1.875 per cent or 0.9375 sen per share second interim dividend. 

Net profit for YTL Cement Bhd, meanwhile, was higher by 8.8 per cent to RM167.9 million this year, due mainly to higher demand for cement in the construction industry and contributions from offshore subsidiaries.

Its revenue for the second quarter being reviewed grew 12.2 per cent to RM1.15 billion, compared to RM1.02 billion for the previous corresponding period ended 31 December 2010. 

YTL Land and Development Bhd's net profit was also higher at RM9.3 million compared to RM5.4 million in the same period the year before on a back of RM225.9 million in revenue compared to RM41.4 million previously.

The stronger performance were substantially contributed by The Capers, being developed under the Sentul urban regeneration project, and the Lakefront and Sandy Island projects being undertaken in Singapore.

YTL E-Solutions Bhd, meanwhile, registered a higher net profit of RM18.6 million while revenue was 42.2 million.

Read more: YTL net profit up 10.4pc in 2011

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