YTL Corp's 1st Quarter Profit Before Tax Surges 215% to RM325 Million (US$78 Million) & Revenue Grows 18% to RM5.1 Billion (US$1.2 Billion)
Kuala Lumpur, Thursday 25 November 2021
YTL Corporation Berhad's profit before tax increased 215% to RM325.4 million (US$78.0 mn) for the 3 months ended 30 September 2021 compared to RM103.4 million (US$24.8 mn) for the previous quarter ended 30 June 2021. Revenue grew 18% to RM5,064.6 million (US$1,214.5 mn) for the current quarter compared to RM4,280.1 million (US$1,026.4 mn) recorded last quarter.
YTL Corp Executive Chairman, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, ''The Group made an excellent start to the 2022 financial year, with revenue increasing 18% to RM5.1 billion for the first quarter, contributed by better performance across almost all divisions. The improved operational performance drove a 215% surge in profit before tax to RM325 million for the quarter under review.
''Meanwhile, in comparison with the preceding year corresponding quarter ended 30 September 2020, revenue grew 21%, with profit before tax increasing by 138%. The Group's EBITDA (earnings before interest, tax, depreciation and amortisation) remained robust, growing by a healthy 22% to RM1.2 billion for the quarter under review, compared to RM976.1 million for the preceding corresponding quarter ended 30 September 2020.''
YTL POWER INTERNATIONAL BERHAD
YTL Power's revenue increased 16% to RM3,513.5 million (US$842.6 mn) for the 3 months ended 30 September 2021 compared to RM3,028.9 million (US$726.3 mn) for the previous quarter ended 30 June 2021. Profit after tax grew to RM51.3 million (US$12.3 mn) for the quarter under review.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, ''YTL Power recorded a significant improvement in performance for the quarter under review, contributed by the main operating segments.
''In October 2021, YTL PowerSeraya Pte Limited, which undertakes our merchant multi-utilities business in Singapore, was appointed as the electricity importer for a two-year trial to import 100MW of electricity from Malaysia via existing interconnectors. As the appointed electricity importer, YTL PowerSeraya will work with Singapore's Energy Market Authority to refine all technical settings and regulatory arrangements under Singapore's Electricity Import Framework during this two-year trial. ''We have also embarked on the acquisition of the Kulai Young Estate in Johor which we intend to develop into a large scale solar power facility with a generation capacity of up to 500MW. This is in line with our shift towards investing in more sustainable, renewable energy solutions moving forward.''
Comparison with Preceding Quarter
MALAYAN CEMENT BERHAD
Malayan Cement recorded revenue of RM284.6 million (US$68.2 mn) for the quarter ended 30 September 2021, an increase of 3% compared to RM276.3 million (US$66.3 mn) for the previous quarter ended 30 June 2021, and a loss before tax of RM32.3 million (US$7.7 mn) for the quarter under review compared to profit before tax of RM9.3 million (US$2.2 mn) last quarter.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, ''The Group's revenue increased marginally for the quarter under review as we completed the acquisition of 10 companies and their respective subsidiaries from YTL Cement Berhad towards the end of the quarter, on 21 September 2021. However, the Group's loss before tax of RM32.3 million was due mainly to fixed costs incurred and low revenue recorded as the country remained in lockdown for the first two months of the quarter under review''.
Comparison with Preceding Quarter
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