YTL Corp 2Q net profit at RM8.7mil, declares 3 sen dividend
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KUALA LUMPUR: YTL Corp Bhd expects the performance of its business segments to remain resilient, as the divisions’ operations are substantially essential in nature.
In a filing with Bursa Malaysia yesterday, the company said it will continue to closely monitor the related risks and impact on all its business segments.
The group posted a net profit of RM530.55mil for its full financial year ended June 30, 2022 (FY22), compared with a net loss of RM367.66mil a year ago.
Basic earnings per share stood at 4.84 sen, compared with a loss per share of 3.38 a year earlier.
In a statement, YTL Corp executive chairman Tan Sri Francis Yeoh Sock Ping said the financial results were driven mainly by its key utilities and cement businesses.
“Our construction division saw better performance, recovering from pandemic restrictions at the start of the financial year, supported by the revival and acceleration of infrastructure, housing and commercial projects.
“Improved results in the property segment were due mainly to higher sales, whilst our hotels division continued to see better results following the gradual recovery of the tourism and hospitality sectors as the year progressed,,
“Earnings before interest, tax, depreciation and amortisation grew 23% to RM5bil for the current year, compared to RM4.1bil last year,” he said in a statement.
YTL Corp posted a net profit of RM8.67mil for the fourth quarter ended June 30, 2022 (4Q22) from a net loss of RM407.48mil a year ago.
The group's revenue rose 42% to RM6.07bil for the quarter compared to RM4.28bil in the corresponding period a year ago.
The board declared an interim cash dividend of three sen per share, the book closure and payment dates for which are Nov 11, 2022 and Nov 29, 2022, respectively.
Meanwhile, YTL Power International Bhd also posted a stronger set of results as its profit after tax soared to RM1.22bil for FY22 compared to a loss after tax of RM103.1mil a year ago.
Similarly, its revenue also grew 65% to RM17.79bil for FY22 from RM10.78bil a year ago bolstered mainly by its merchant multi-utilities segment in Singapore, water and sewerage business in the UK and telecommunications segment in Malaysia.
Yeoh, who is also the executive chairman of YTL Power noted that the gain on disposal of the group’s investment in ElectraNet Pty in Australia also boosted its earnings.
“Key strategic developments in our business this year included the completion of our acquisition of the Tuaspring power plant in Singapore which has been integrated into our existing operations, improving operational efficiency and strengthening our overall value proposition.