|YTL Corp Q3 earnings up 16.9% to RM364.8m|
| THE STAR ONLINE, May 22, 2012
KUALA LUMPUR: YTL Corporation Bhd 's earnings rose 16.9% to RM364.82mil in the third quarter ended March 31, 2012 from RM312.05mil a year ago, underpinned by its multi-utility business.
It said on Tuesday, revenue rose 23.5% to RM5.239bil from RM4.241bil. Earnings per share were 3.85 sen compared with 3.48 sen. It declared an interim dividend of 20% or 2.0 sen per share.
"Profit before taxation increased to RM1.834bil for Q3 of the financial year ending June 30, 2012, compared to RM1.731bil for the same period last year," it said.
For the nine-month period, it chalked up a 13.1% increase in net profit to RM854.04mil from RM755.14mil. Revenue increased by 14.9% to RM15.108bil Rm13.146bil.
YTL group managing director Tan Sri Francis Yeoh Sock Ping said: "The group's performance registered strong growth with net profit of RM854mil on the back of RM15bil in revenue, which increased by just under RM2bil from RM13bil for the same period last year."
Yeoh said the group's multi-utility businesses in Malaysia, the UK and Singapore and cement operations continued to drive growth.
On YTL Power International Bhd , its nine-month revenue grew 12.7% to RM11.712bil on-year, supported by the better performance of its merchant multi-utility businesses. Net profit was RM822.8mil with RM868mil in the previous corresponding period.
YTL Land & Development Bhd 's revenue jumped to RM446.2mil in the nine-month period from RM64.4mil a year ago. Net profit increased to RM19.1mil from RM8.5mil.
Its better performance was due mainly to the ongoing development of The Capers, being developed under the Group's Sentul urban regeneration project, and the Lakefront and Sandy Island projects being undertaken by the group's property development companies in Singapore.
YTL e-Solutions Bhd 's revenue increased to RM63.7mil for the nine months from RM51.8mil, mainly due to fee income derived from a spectrum sharing agreement in relation to the group's 2.3GHz Worldwide Interoperability for Microwave Access (WiMAX) spectrum.
However, net profit declined to RM26.9mil from RM28.8mil largely due to the absence of the gain on the disposal of the company's stake in Extiva Communications Sdn Bhd .
Starhill Real Estate Investment Trust recorded net revenue of RM52.9mil and realised income of RM78.3mil for the nine-months ended March 31, 2012.
It attributed the better performance after it acquired nine hotel properties during the last quarter to reposition its portfolio to focus on hotel and hospitality-related assets.