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YTL Corp 1st quarter profit up 13.33%

   

Kuala Lumpur, 23 November 2006

YTL CORPORATION BERHAD
YTL Corp 1st Quarter Profit Up 13.33%
Click here to view YTL Corporation Berhad's report
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YTL Corporation Berhad today announced profit before taxation of RM364.1 million (US$99.8 mil, based on the prevailing exchange rate of US$1.00:RM3.65) for the first quarter of the financial year ending 30 June 2007. The profit before taxation figure takes into account an expense of RM5.89 million relating to share options granted, required under FRS2 – Share Based Payments. Profit before taxation for the quarter under review excluding this expense stood at RM370.03 million (US$101.3 mil). This represents an increase of 13.33% over RM326.5 million (US$89.6 mil) in the previous corresponding quarter ended 30 September 2005, excluding a gain of RM31.6 million on the disposal of investments recorded in that quarter.

The improved financial performance was due mainly to increased contributions from the utilities division, as well as better operating results from the Group’s cement manufacturing activities.

YTL Corp Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, commenting on the quarter’s results, said, “The Group has made a good start to the year, with our key utilities and cement divisions turning in solid performances. On-going price stabilisation in the cement industry continues to bode well for our cement division, and optimal plant efficiency throughout the cement and utilities divisions enabled the Group to maintain strong results for the quarter. This reinforces the Group’s ability to continue to reward shareholders through dividends and distributions for the immediate and also the long term”.


   

YTL POWER INTERNATIONAL BERHAD
Net Profit Grows 24% to RM221 Million (US$60 Million)
Sales Up 4% to RM959 Million (US$263 Million)
Click here to view YTL Power International Berhad's report

Net profit jumped 23.6% to RM220.6 million (US$60.4 mil) for the quarter ended 30 September 2006, compared to RM178.5 mil (US$48.9 mil) during the same period last year on the back of a 3.5% growth in revenue to RM959.3 million (US$262.8 mil) for the quarter ended 30 September 2006 from RM926.7 million (US$253.9 mil) during the previous corresponding quarter ended 30 September 2005. Profit before taxation increased 14.7% to RM285.9 million (US$78.3 mil) for the quarter under review from RM249.3 mil (US$68.3 mil) last year.

The improvements in revenue and profit were due to higher contributions from the Group’s wholly-owned subsidiary, Wessex Water Limited, a water and sewerage provider in the UK, and from P.T. Jawa Power, its 35%-owned associate company in Indonesia, the owner of a 1,220 MW power station in East Java.

Earlier this month, Wessex Water was named the top water and sewerage company in the UK by Ofwat, the UK water industry regulator, in its report on company performance across the last year. Wessex Water achieved outstanding scores across the board and was the only business to receive the maximum seven stars for customer services for the second successive year.


   

YTL CEMENT BERHAD
Profit Increases 17% to RM53 Million 
Sales Grow 9% to RM284 Million

Click here to view YTL Cement Berhad's report

Profit before taxation grew 16.8% to RM52.7 million for the first quarter ended 30 September 2006 from RM45.1 million during the same period last year. Revenue increased 8.7% to RM283.9 million for the quarter compared to RM261.2 million during the previous corresponding quarter ended 30 September 2005, whilst net profit decreased by 7.3% to RM39.3 million for the first quarter ended 30 September 2006 compared to RM42.4 million last year.

The growth revenue and profit before taxation arose mainly from stabilisation in the price of cement and improved costs of production.


   

YTL LAND & DEVELOPMENT BERHAD
YTL Land Registers Profit of RM3.5 Million & Sales of RM24 Million
Click here to view YTL Land & Development Berhad's report

Profit before taxation stood at RM3.5 million for the quarter ended 30 September 2006 compared to RM6.8 million during the same period last year. Revenue decreased to RM24.0 million from RM33.5 million last year, whilst net profit also dropped to RM2.9 million from RM5.6 million for the previous corresponding period ended 30 September 2005.

The decrease was substantially due to lower progress billings recognised from the Group’s on-going property development projects and delays in the timing of project launches.


   

YTL E-SOLUTIONS BERHAD
YTL e-Solutions Registers Profit of RM2 Million & Sales of RM6 Million
Click here to view YTL e-Solutions Berhad's report

Profit before tax stood at RM1.8 million for the quarter ended 30 September 2006 compared to RM4.9 million last year. Revenue dropped to RM6.1 million from RM10.9 million during the previous corresponding quarter ended 30 September 2005 and net profit also decreased to RM1.2 million for the quarter compared to RM3.3 million last year.

The decreases in revenue and profit were due predominantly to the absence of RM3.564 million of project income recognised in the corresponding quarter ended 30 September 2005, as well as the continuation of intensified competition in the Alternative Voice Service Provider (AVSP) industry.

STARHILL REAL ESTATE INVESTMENT TRUST
Starhill REIT Records Distributable Income of RM18 Million & Sales of RM24 Million
Click here to view Starhill Real Estate Investment Trust report

Starhill REIT achieved distributable income of RM17.7 million and revenue of RM24.1 million for the first quarter ended 30 September 2006. There are no comparative financial results for the previous corresponding quarter ended 30 September 2005 as the Trust was established on 18 November 2005. Starhill REIT was listed on the Main Board on Bursa Malaysia Securities Berhad on 16 December 2005.

With a property portfolio comprising Starhill Gallery, Lot 10 Shopping Centre and the JW Marriott Hotel Kuala Lumpur, Starhill REIT continues to perform strongly, well in line with expectations. 

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