Business

YTL’s Q1 profit jumps to RM650.4m

November 22, 2012

KUALA LUMPUR, Nov 22 – YTL Corporation Bhd reported a higher pre-tax profit of RM650.403 million for the first quarter ended Sept 30, 2012, against the RM530.143 million registered in the same quarter last year.

Revenue for the quarter also jumped to RM5.072 billion from RM4.543 billion previously.

In a filing to Bursa Malaysia today, YTL said its utilities business contributed 81.9 per cent and 61.8 per cent to its revenue and pre-tax profit respectively.

“Revenue for the first quarter rose to RM4.154 billion, representing an increase of 15 per cent from same quarter last year, while pre-tax profit decreased to RM401.8 million from RM408.7 million previously.

“The increase in revenue was mainly contributed by higher sales recorded in the multi utilities, water & sewerage and mobile broadband networks division whilst decrease in profit was mainly due to higher fuel cost incurred by the multi utilities division and higher operating cost due to inflationary pressure and higher depreciation charged in the water & sewerage division,” the conglomerate said.

Other than the utilities segment, YTL has other business segments namely  hotels, construction, information technology & e-commerce related business, cement manufacturing & trading, property investment & development and management services & others.

For the financial year ending June 30, 2013, YTL said it expects the utilities business segment to continue to strive for long-term sustainable growth despite the competitive environment with focus on customer service and value-added solutions.

“Despite the challenging market in the telecommunications industry, this business segment is expected to continuously grow its subscriber base to generate higher revenue,” the company said.

YTL also expects its other business segments to remain stable and contribute positively to the earnings of the group for the current fiscal year. – Bernama

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