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YTL Corp's 4th Quarter Revenue Grows 20% to RM5.0 Billion (US$1.2 Billion) & Profit Before Tax Increases 54% to RM187 Million (US$45 Million).

● Cash reserves of RM14 billion (US$3.3 billion)

● Total global assets of RM77 billion (US$18.3 billion)

● 35 consecutive years of attractive dividends

 

Kuala Lumpur, August 29, 2019

YTL Corporation Berhad registered a 20.0% increase in revenue to RM5,039.2 million (US$1,202.7 mn) for the fourth quarter ended 30 June 2019 compared RM4,198.6 million (US$1,002.1 mn) for the preceding year corresponding quarter ended 30 June 2018. Profit before tax grew 53.7% to RM186.7 million (US$44.6 mn) for the current quarter compared to RM121.5 million (US$29.0 mn) for the same quarter last year.

The Board of Directors of YTL Corp declared an interim cash dividend of 4.0 sen per ordinary share for the financial year ended 30 June 2019, the book closure and payment dates for which are 29 October 2019 and 13 November 2019, respectively. The interim dividend represents a yield of approximately 4.0% based on the 5-day weighted average share price of RM0.99 per share.

YTL Corp Executive Chairman, Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group’s performance remained sound for the current quarter with all key divisions contributing to the increase in revenue in the face of ongoing pressures in some of our main operating segments. Revenue from the utilities division grew mainly due to higher electricity sales, as well as an increase in project revenue in the mobile broadband network sub-segment. Profit before tax was impacted by lower retail non-fuel and ancillary margins, lower vesting contract levels and margins, higher finance costs and an impairment allowance relating to litigation, coupled with the absence of a one-off pension credit recognised in the water and sewerage division last year.

“The revenue increase in our cement business arose mainly from consolidation of Lafarge Malaysia, in which the Group acquired a 76.98% stake during May and June 2019, although the increase in profit before tax was due to a higher share of profits from an associated company. Meanwhile, our construction segment also achieved higher revenue and profit before tax resulting from a significant increase in construction works.

“Our hotels segment registered higher revenue and profit before tax contributed by consolidation of The Hague Marriott in the Netherlands and The Westin Perth in Australia, better performance following the refurbishment of the JW Marriott Hotel Kuala Lumpur and unrealised foreign exchange gains on inter-company balances.

“The increase in revenue in the property segment was due to higher sales of completed properties of the 3 Orchard By-The-Park and The Fennel projects, whilst the decrease in profit before tax resulted from the absence of last year’s one-off land disposal gain, an inventory write-down of completed units of 3 Orchard By-The-Park and a fair value loss on investment properties under Starhill Global REIT, coupled with lower unrealised foreign exchange gains on foreign currency borrowings recorded by YTL Hospitality REIT.

“The management services segment saw a decrease in revenue due to lower accrued technical services, interest and distribution income. However, profit before tax increased significantly as a result of lower operating costs and fair value gains on investments, derivatives and investment properties, partially offset by a lower share of profits of associated companies.”

For the cumulative 12 months ended 30 June 2019, YTL Corp registered revenue of RM17,995.0 million (US$4,294.8 mn) compared to RM15,890.1 million (US$3,792.4 mn) for the preceding 12 months ended 30 June 2018, whilst profit before tax stood at RM1,029.0 million (US$245.6 mn) this year compared to RM1,335.7 million (US$318.8 mn) last year.

YTL POWER INTERNATIONAL BERHAD
YTL Power Records 4th Quarter Revenue of RM3.1 Billion (US$730 Million) & Profit Before Tax of RM247 Million (US$59 Million) Interim Dividend of 5.0 Sen per Share Declared

YTL Power recorded higher revenue of RM3,058.7 million (US$730.0 mn) for the fourth quarter ended 30 June 2019, an increase of 9.0% compared to RM2,807.3 million (US$670.0 mn) for the preceding year corresponding quarter ended 30 June 2018. Profit before tax stood at RM246.6 million (US$58.9 mn) for the current quarter compared to RM282.2 million (US$67.4 mn) for the same quarter last year.

The Board of Directors of YTL Power declared an interim cash dividend of 5.0 sen per ordinary share for the financial year ended 30 June 2019, the book closure and payment dates for which are 29 October 2019 and 13 November 2019, respectively. The interim dividend represents a yield of approximately 7% based on the 5-day average share price of RM0.71 per share.

Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Power, said, “YTL Power’s performance remained satisfactory for quarter under review, with the power generation, merchant multi-utilities and mobile broadband network divisions contributing to the increase in revenue. The contracted power generation division registered lower profit before tax owing mainly to an allowance for an impairment relating to the power station whilst the multi-utilities business registered higher revenue primarily from higher electricity sales, but a loss before tax resulting from lower vesting contract levels, lower margins on indexed contracts and higher finance and operating costs, partially offset by lower depreciation charges.

“Meanwhile, lower profit before tax in the water and sewerage segment was the result of the absence of a one-off pension credit recognised last year, moderated by lower operating costs and depreciation charges in the current quarter.

“The mobile broadband network division registered higher revenue and profit before tax due to an increase in project revenue, whist the investment holding activities segment also recorded higher profit before tax arising from a fair value gain on investments, derivatives and investment properties and lower operating costs, partially offset by a lower share of profits from associates.”

For the cumulative 12 months ended 30 June 2019, YTL Power recorded a 10.1% increase in revenue to RM11,677.1 million (US$2,786.9 mn) compared to RM10,606.0 million (US$2,531.3 mn) for preceding corresponding 12 months ended 30 June 2018. Profit before tax stood at RM733.7 million (US$175.1 mn) this year compared to RM940.6 million (US$224.5 mn) for the same period last year.

YTL LAND & DEVELOPMENT BERHAD
YTL Land Records 4th Quarter Revenue of RM286 Million (US$68 Million)

YTL Land registered higher revenue of RM286.2 million for the fourth quarter ended 30 June 2019 compared to RM128.9 million for the preceding year corresponding quarter ended 30 June 2018 and a loss before tax of RM115.5 million for the quarter compared to a loss of RM142.9 million (after adjusting for one-off revenue of RM70.8 million and a gain of RM41.7 million from the land disposal by Udapakat Bina Sdn Bhd following the acquisition by Pentadbir Tanah Kuala Lumpur for the Mass Rapid Transit project) for the corresponding quarter last year.

Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Land, said, “Higher revenue for the quarter under review resulted mainly from increased sales of completed properties in our 3 Orchard By-The-Park and The Fennel residential developments. The reduction in YTL Land’s loss before tax was primarily attributable to a lower inventory write-down of the 3 Orchard By-The-Park project”.

For the cumulative 12 months ended 30 June 2019, YTL Land’s revenue increased to RM446.3 million, compared to RM328.8 million for the preceding corresponding 12 months ended 30 June 2018, and a loss before tax of RM166.4 million for the 12 months under review compared to a loss before tax of RM64.0 last year.

On 13 June 2019, Maybank Investment Bank Berhad, on behalf of YTL Corp, announced a voluntary share exchange offer to acquire the remaining ordinary shares and outstanding ICULS (irredeemable convertible unsecured loan stocks) in YTL Land not already owned by YTL Corp. The offer prices are RM0.36 for each ordinary share in YTL Land and RM0.32 for each YTL Land ICULS, to be satisfied through the issuance of ordinary shares in YTL Corp at an issue price of RM1.14. This translates into exchange ratios of approximately 0.32 and 0.28 YTL Corp share for each YTL Land share and ICULS, respectively.

The share exchange offer is currently ongoing and, on 27 August 2019, the closing date for acceptance of the offer was extended to 20 September 2019, from 30 August 2019 previously.

LAFARGE MALAYSIA BERHAD
Lafarge Malaysia Records 2nd Quarter Revenue of RM472 Million (US$113 Million)

Lafarge Malaysia recorded revenue of RM471.5 million (US$112.5 mn) for the 2nd quarter ended 30 June 2019 compared to RM532.2 million (US$127.0 mn) for the preceding year corresponding quarter ended 30 June 2018, and a lower loss before tax of RM71.7 million (US$17.1 mn) for the current quarter compared to a loss before tax of RM107.6 million (US$25.7 mn) for the same quarter last year. Lafarge Malaysia’s financial year ends on 31 December.

Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of Lafarge Malaysia, said, “The decrease in revenue is mainly attributable to lower sales both in volume and prices in the cement segment caused by weak domestic market conditions but compensated partially by higher export sales. Nevertheless, the Group registered a lower loss before tax for the current quarter compared to the same period last year due to lower distribution costs, savings from vigorous cost cutting measures and lower depreciation, partially offset by increases in electricity prices and higher maintenance costs”.

View individual reports below:

YTL CORPORATION BERHAD
YTL LAND & DEVELOPMENT BERHAD
YTL POWER INTERNATIONAL BERHAD
LAFARGE MALAYSIA BERHAD

 

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