Kuala Lumpur, 24 November
YTL Corp 1st Quarter Net Profit
Up 14% to RM184 Million (USD49 Million)
Sales Up 15% to RM1.36 Billion
here to view YTL Corporation Berhad's report
YTL Corporation Berhad today
announced revenue of RM1,357.6 million (USD360.3 mil, based on the prevailing
exchange rate of USD1.00:RM3.77) for the first quarter of the financial year
ending 30 June 2006, a 15.2% increase over RM1,178.1 million (USD312.7 mil) in
the previous corresponding quarter ended 30 September 2004.??
In line with the increase in
revenue, the Group’s profit before taxation grew 21.2% to RM378.9 million
(USD100.6 mil) for the quarter ended 30 September 2005, compared to RM312.8
million (USD83.0 mil) for the previous corresponding quarter ended 30 September
2004.? Net profit increased 13.9% to RM183.7 million (USD48.8 mil) against
RM161.3 million (USD42.8 mil) last year.
The improved financial performance
was predominantly due to better operating results from the Group’s cement
manufacturing activities, as well as increased contributions from the utilities
Remarking on the first quarter
performance, Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping
said, “The utilities division continues to be the Group’s star performer,
generating solid revenues and profits, quarter after quarter, year after
year.?Price stabilisation in the cement industry has also boosted the
performance of our cement division.?Overall, the quarter’s results indicate
that this is shaping up to be another strong year for the Group”.
In addition, on 22 November 2005,
the Group launched its Starhill Real Estate Investment Trust (“Starhill REIT”),
which is scheduled to be listed on Bursa Malaysia Securities Berhad in December
2005 with a fund size of 1.04 billion units.?Starhill REIT will be the
Group’s 6th publicly listed vehicle in Malaysia.