YTL Corp Registers Half-Year Revenue of RM7.8 Billion (US$2.0 Billion) & Profit of RM604 Million (US$154 Million)
- Kuala Lumpur
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group’s revenue increased by 10% to RM7.8 billion for the first half of the 2018 financial year, whilst profit before taxation grew 12% to RM836 million compared to the same period last year. Our utilities segment saw increases in revenue and profit before taxation resulting from the commencement of supply on 1 September 2017 from Paka Power Station under the new power purchase agreement in the contracted power generation sub-segment, coupled with better performance in the mobile broadband division following the launch of nationwide 4G LTE services last year.
“Our cement business recorded an increase in revenue on the back of higher sales volumes in the cement and quarry divisions, although profit before tax was affected by production cost increases and competitive pricing in the domestic market. The construction segment registered improved revenue due to better site progress, offset by lower construction margins.
“Meanwhile, in the hotels segment, the increase in revenue was contributed mainly by The Hotel Stripes in Kuala Lumpur, Sydney Harbour Marriott Hotel in Australia and 3 new hotels in the United Kingdom, with the decrease in profit before tax arising due to unrealised foreign exchange losses on intercompany balances.”...