YTL Corp 1Q profit up 56% on 11.6% revenue rise.
Business & Markets 2012
Written by Madiha Fuad of the edgemalaysia.com
Thursday, 22 November 2012 17:15
KUALA LUMPUR (Nov 22): YTL CORPORATION BHD [] announced today (Thursday) an 11.6% growth in revenue to RM5.1 billion for the three months ended Sept 30, 2012, compared to RM4.5 billion for similar quarter ended the previous year.
"The group has made a good start to the 2013 financial year, with revenue increasing 12% compared to the same period last year," said YTL group managing director Tan Sri Francis Yeoh Sock Ping.
Net profit attributable to shareholders for the first quarter (1Q) registered a marked improvement of 56% to RM392 million over RM251.8 million last year.
This was mainly "due to better performance of our cement operations, as well as unrealised foreign exchange gains and derivative gains recorded in an offshore subsidiary", said YTL Corp in a press release today.
YTL Corp also declared an interim dividend of 10% or 1 sen per share.
"On the operations front, our cement and utilities divisions continued drive the group's growth, whilst the re-organisation of our property development and REIT businesses — completed over the past year — have successfully streamlined and improved the operational efficiency of those divisions."
YTL Corp's share price has been on a downtrend from RM1.93 in mid-August before settling at RM1.72 today, an 11% drop.