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YTL Corp half-year net profit up 15.1% to RM554 million

   

Kuala Lumpur, 8 February 2007

YTL CORPORATION BERHAD
Half-Year Net Profit Up 15.1% to RM554 Million (US$158 Million)
Sales Up 6% to RM2.81 Billion (US$802 Million)
Additional Interim Dividend of 15% Declared
Click here to view YTL Corporation Berhad's report

YTL Corporation Berhad today announced net profit of RM553.7 million (US$158.2 mil, based on the prevailing exchange rate of US$1.00:RM3.50) for the first six months of the financial year ending 30 June 2007. Meanwhile, revenue grew 6.2% to RM2,808.1 million (US$802.3 mil), compared to RM2,644.9 million (US$755.7 mil) last year.

In line with the revenue increase, the Group's operating profit also improved by 4.1% to RM1,028.3 million (US$293.8 mil) for the six months ended 31 December 2006 from RM988.1 million (US$282.3 mil) last year, due mainly to the better performance of the Group's utilities and cement manufacturing and trading activities.

Comparatively, net profit for the six months under review, excluding the following exceptional gains and expenses, stood at RM565.5 million (US$161.6 mil), representing an increase of 15.1% over RM491.3 million (US$140.4 mil) in the previous corresponding period ended 31 December 2005:-

  • The net profit figure of RM553.7 million recorded in the current financial year to date takes into account an expense of RM11.87 million relating to share options granted, required under FRS2 Share Based Payments.?
  • Included in the profit before taxation in the previous corresponding period ended 31 December 2005 was an exceptional gain on the redemption of Mudharabah Redeemable Convertible Preference Shares of RM77.696 million and a gain on the disposal of quoted investments amounting to RM34.416 million.

YTL Corp Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping said, "Increased contributions from the utilities division, together with improved operating results from the Group's cement manufacturing and trading activities, have been the main drivers for growth this quarter and the Group is well on track to achieve another good set of results for the year.

"I am also pleased to announce an additional interim dividend of 15% for YTL Corporation Berhad and a 7.5% tax-exempt interim dividend for YTL Power International Berhad. These interim dividends, together with distributions already undertaken this financial year, including YTL Corp's earlier interim dividend and restricted offer for sale, and YTL Power's share dividend, will further enhance yields to our long-term shareholders, and we hope to continue to make such distributions to reward our shareholders going forward."

Additional Interim Dividend of 15% Declared
Resultant Gross Yield of 4.26%

YTL Corp announced an additional Interim Dividend of 15% gross less Malaysian Income Tax for the financial year ending 30 June 2007. This is the 2nd interim cash dividend declared for the year and will boost gross returns to shareholders to approximately 4.26% on the back of the 6-month weighted average share price of RM5.94, taking into consideration distributions and entitlements for the financial year to date, namely:-

  • the 1st Interim Dividend of 15% gross less Malaysia Income Tax paid on 4 December 2006; and?
  • the Restricted Offer for Sale of shares in YTL Power International Berhad on the basis of 1 YTL Power share for every 10 existing ordinary YTL Corp shares held, which was completed on 26 January 2007.

The book closure date for the 2nd Interim Dividend is 29 March 2007 and the payment date is 18 April 2007.


   

YTL POWER INTERNATIONAL BERHAD
Net Profit Grows 12% to RM443 Million (US$127 Million)
Sales Up 5% to RM1.9 Billion (US$553 Million)
Additional Tax-Exempt Interim Dividend of 7.5% Declared
Click here to view YTL Power International Berhad's report

Net profit increased by 12.5% to RM442.8 million (US$126.5 mil) for the six months ended 31 December 2006, compared to RM393.7 mil (US$112.5 mil) during the same period last year on the back of a 5.1% growth in revenue to RM1,935.9 million (US$553.1 mil) for the six months ended 31 December 2006 from RM1,841.7 million (US$526.2 mil) last year. Profit before taxation increased 8.2% to RM572.6 million (US$163.6 mil) for the six months under review from RM529.2 mil (US$151.2 mil) for the half-year ended 31 December 2005.

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 in Indonesia, the owner of a 1,220 MW power station in East Java.

Additional Tax-Exempt Interim Dividend of 7.5% Declared
Resultant Yield of 5.85%

YTL Power also declared an additional tax-exempt Interim Dividend of 7.5% for the financial year ending 30 June 2007. The tax-exempt status of the Interim Dividend effectively amounts to a gross distribution of 10% and will boost returns to shareholders to approximately 5.85% on the back of the 6-month weighted average share price of RM2.03, taking into consideration the share dividend of 1 treasury share for every 25 YTL Power shares, the entitlement date for which was 4 February 2007.

The book closure date for the Interim Dividend is 29 March 2007 and the payment date is 18 April 2007.


   

YTL CEMENT BERHAD
Net Profit Rises to RM75 Million
Sales Grow 9% to RM546 Million
Click here to view YTL Cement Berhad's report

Net profit for the six months ended 31 December 2006 stood at RM75.0 million, a marginal decrease of 0.3% compared to RM75.2 million for the previous corresponding period ended 31 December 2005. Profit before taxation grew 24.3% to RM100.8 million for the six months ended 31 December 2006 from RM81.0 million during the same period last year, whilst revenue increased 8.9% to RM545.8 million for the half-year compared to RM501.4 million during the previous corresponding six months ended 31 December 2005.

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
Net Profit Stands at RM5.8 Million on Sales of RM51 Million
Click here to view YTL Land & Development Berhad's report

YTL Land earned net profit of RM5.8 million for the six months ended 31 December 2006, compared to RM9.9 million for the previous corresponding period ended 31 December 2005. Meanwhile, revenue stood at RM51.1 million for the half-year under review, compared to RM55.2 million during the same period last year. The decrease was substantially due to lower progress billings recognised from the Group's on-going property development projects.

However, strong sales recorded for The Saffron under the Group's Sentul urban regeneration project led to a 12.7% increase in revenue to RM27.1 million for the current financial quarter ended 31 December 2006 compared to RM24.0 million reported in the preceding financial quarter ended 30 September 2006.


   

YTL E-SOLUTIONS BERHAD
Net Profit Stands at RM2.5 Million on Sales of RM12 Million
Click here to view YTL e-Solutions Berhad's report

YTL e-Solutions earned net profit of RM2.5 million for the six months ended 31 December 2006, compared to RM4.1 million during the previous corresponding period ended 31 December 2005. Revenue decreased to RM12.2 million during the half-year under review from RM17.0 million last year.

The lower revenue was mainly due to lower demand for the Group's products and services as well as the intensified competition faced in the Alternative Voice Service Provider (AVSP) industry. The fall in revenue was, however, cushioned by revenue growth achieved by the Group's digital narrowcasting and digital media content development division.

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