YTL Corp Records 9-Month Revenue of RM11.7 Billion (US$3.0 Billion) & Profit of RM903 Million (US$228 Million)
- Kuala Lumpur
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group registered an 8% increase in revenue to RM11.7 billion for the 9 months ended 31 March 2018, contributed mainly by the utilities, cement, hotels and construction businesses. Our utilities segment performed well for the period under review, with increases in revenue and profit before tax contributed by the contracted power generation and water and sewerage sub-segments.
“The increase in revenue in the Group’s cement business was driven by higher sales volumes in all sub-segments, although profit before tax was impacted by higher production and finance costs, as well as competitive pricing in the domestic market. The construction segment registered an increase in revenue due to better site progress, but recorded lower profit before tax owing to lower construction margins and higher operating costs.
“Meanwhile, the improved performance of the hotels segment was contributed mainly by The Hotel Stripes in Kuala Lumpur, the Sydney Harbour Marriott in Australia and 3 newly acquired hotels in the United Kingdom, offset by unrealised foreign exchange losses on intercompany balances and pre-opening and training expenses incurred by The Ritz-Carlton, Koh Samui, a new hotel in Thailand. In the Group’s management services segment, the increase in revenue was due mainly to higher interest income, whilst the loss before taxation incurred was primarily the result of the absence of one-off adjustments relating to the accounting treatment of a loan restructuring recorded by an associated company and higher finance costs.”...