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YTL Corp half-year net profit up 248% to RM1.04 billion

   

Kuala Lumpur, 23 February 2006

 

YTL CORPORATION BERHAD

YTL Corp Half-Year Net Profit Up 248% to RM1.04 Billion (USD280 Million)

Sales Up 9% to RM2.64 Billion (USD710 Million)

Click here to view YTL Corporation Berhad's report

 

YTL Corporation Berhad today announced net profit of RM1,042.5 million (USD280.0 mil, based on the prevailing exchange rate of USD1.00 : RM3.72) for the first six months of the financial year ending 30 June 2006, an increase of  247.7% compared to RM299.9 million (USD80.5 mil) for the same period last year. 

 

Profit before taxation grew 131.8% to RM1,465.9 million (USD393.7 mil) for the six months ended 31 December 2005, compared to RM632.3 million (USD169.8 mil) last year, whilst revenue grew to RM2,643.3 million (USD709.9 mil), a 9.2% increase over RM2,421.2 million (USD650.3 mil) in the previous corresponding half-year ended 31 December 2004.  

 

The profit increase was due predominantly to an exceptional gain of RM643.6 million on the disposal of Starhill Gallery, Lot 10 Shopping Complex and the JW Marriott Hotel Kuala Lumpur by wholly-owned subsidiary, YTL Land Sdn Bhd, to the Starhill Real Estate Investment Trust, which was listed on the Main Board of Bursa Malaysia Securities Berhad in December 2005.  

 

Excluding this quarter's exceptional gains, profit before taxation still registered an increase of 17.8% to RM744.6 million (USD200.0 mil) for the six months ended 31 December 2005 compared to the same period last year.

 

YTL Group Managing Director, Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, commenting on the Group's performance, said, “Earnings growth was recorded across most divisions, and this is expected to be sustained through to the end of this financial year. Improved operating results from the Group’s cement manufacturing activities and increased contributions from the utilities division were the main drivers for the quarter's revenue growth.

 

"The Group's half-year profit also received a tremendous boost from the exceptional gain generated by Starhill REIT's initial public offering. This is the first reporting quarter for Starhill REIT, and the Trust has performed in line with expectations".


   

YTL POWER INTERNATIONAL BERHAD

Net Profit Grows 6% to RM394 Million (USD106 Million)  

Sales Hit RM1.8 Billion (USD495 Million)

Click here to view YTL Power International Berhad's report

 

Net profit grew 5.9% to RM393.7 million (USD105.7 mil) for the half-year ended 31 December 2005, compared to RM371.6 mil (USD99.8 mil) last year.  Profit before taxation jumped 16.7% to RM566.6 million (USD152.2 mil) from RM485.5 mil (USD130.4 mil) last year and revenue increased by 1.2% to RM1,841.7 million (USD494.6 mil) for the six months ended 31 December 2005 from RM1,820.5 million (USD488.9 mil) during the previous corresponding six months ended 31 December 2004.

 

Equity accounting of P.T. Jawa Power in Indonesia, a 35% associate company of the Group, acquired in December 2004, continues to be the main contributor towards growth in revenue and profit, in addition to improved earnings generated from Wessex Water, the Group's wholly-owned water and sewerage services subsidiary in the United Kingdom.


   

YTL CEMENT BERHAD

YTL Cement  Records 36%  Growth in Net Profit to RM73 Million   

Sales Jump 73% to RM501 Million

Click here to view YTL Cement Berhad's report

 

Net profit increased by 36.0% to RM72.6 million compared to RM53.3 million for the previous year corresponding six months ended 31 December 2004.  Profit before tax grew 34.8% to RM81.0 million from RM60.1 million last year, on the back of a 72.9% surge in revenue to RM501.4 million for the six months ended 31 December 2005 from RM290.1 million during the same period last year.

 

The improved financial performance was due mainly to stabilisation of the cement price, as well as consolidation of the results of Perak-Hanjoong Simen Sdn Bhd, a 64.84% subsidiary of the Group acquired in December 2004.


   

YTL LAND & DEVELOPMENT BERHAD

YTL Land Registers Net Profit of RM10 Million

Sales Stand at RM55 Million

Click here to view YTL Land & Development Berhad's report

 

Net profit decreased to RM9.9 million for the six months ended 31 December 2005, compared to RM17.8 million for the previous corresponding period ended 31 December 2004. Revenue also dropped by 37.5% to RM55.2 million for the six months ended 31 December 2005 from RM88.4 million during the same period last year.   The decline was substantially due to lower revenue and profit recognition resulting from the timing of project launches by the Group’s subsidiary companies.


   

YTL E-SOLUTIONS BERHAD

YTL e-Solutions  Records 19%  Growth in Net Profit to RM3.7 Million  

Sales Increase 11% to RM17 Million

Click here to view YTL e-Solutions Berhad's report

 

Net profit grew to 3.7 million for the six months ended 31 December 2005, an increase of 19.2% from RM3.1 million for the previous corresponding half-year ended 31 December 2004. Profit before tax increased by 12.6% to RM6.3 million from RM5.6 million last year and revenue grew 11.1% to RM17.0 million for the six months ended 31 December 2005 from RM15.3 million during the same period last year.

 

The favourable results for the quarter under review were due mainly to higher demand for the Group’s IT products and services, coupled with the revenue growth achieved by YTL Info Screen Sdn Bhd, a subsidiary involved in digital narrowcasting and digital media content development and delivery.

 

STARHILL REAL ESTATE INVESTMENT TRUST

Starhill REIT Records Sales of RM3.9 Million & Distributable Income of RM2.3 Million

Click here to view Starhill Real Estate Investment Trust report

 

Starhill REIT, in its first reporting quarter since listing on the Main Board on Bursa Malaysia Securities Berhad on 16 December 2005, recorded revenue of RM3.95 million for the period of 16 December 2005 to 31 December 2005.  Meanwhile, distributable income stood at RM2.29 million for the same period.

 

Starhill REIT has a fund size of 1.04 billion units and the properties in its portfolio consist of Starhill Gallery, Lot 10 Shopping Complex and the JW Marriott Hotel Kuala Lumpur.  

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