Kuala Lumpur, 25 February 2010
YTL Corporation Berhad ("YTL Corp") today announced a 133.6% growth in revenue to RM7,857.4 million (US$2,311.0 mn, based on the prevailing exchange rate of US$1.00:RM3.40) for the 6 months ended 31 December 2009, compared to RM3,363.83 million (US$989.4 mn) for the preceding corresponding period ended 31 December 2008. Profit before taxation grew 19.1% to RM1,017.9 million (US$299.4 mn) for the first six months of the financial year ending 30 June 2010, compared to RM854.4 million (US$251.3 mn) last year.
YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The Group saw its revenue more than double over the first 6 months of this financial year compared to the same period last year, owing predominantly to PowerSeraya in Singapore, our most recent large-scale utility acquisition, which owns about a quarter of the islandís total licensed generating capacity. The strength and stability of our core businesses have also continued to sustain the Group and enabled us to improve our financial performance for the year to date, and we have seen an improvement in the wider operating environment as well".
YTL POWER INTERNATIONAL BERHAD
Half-Year Revenue Jumps 233% to RM6.3 Billion (US$1.9 Billion)
25% Increase in Profit Before Tax to RM663 Million (US$195 Million)
7.5% Single Tier Interim Dividend Declared
YTL Power registered a 232.6% jump in revenue for the 6 months ended 31 December 2009 to RM6,338.4 million (US$1,864.2 mn) compared to RM1,906.0 million (US$560.6 mn) for the previous corresponding 6 months ended 31 December 2008. The growth was due principally to the consolidation of results from PowerSeraya Limited, which YTL Power acquired in March 2009. Profit before taxation grew to RM663.5 million (US$195.1 mn) for the 6 months ended 31 December 2009, an increase of 25.1% over RM530.2 million (US$155.9 mn) for the same period last year.
The Group now has a total licensed power generation capacity of 1,212 megawatts (MW) at the Paka and Pasir Gudang power stations in Malaysia and the acquisition of PowerSeraya has added a further 3,100 MW, to bring the Groupís total to 4,312 MW. Wessex Water Limited, the Groupís water and sewerage services subsidiary in the UK, as well as its investments in P.T. Jawa Power (a 35%-owned associate company) in Indonesia and ElectraNet Pty Ltd (a 33.5% indirect investment) in Australia, all continued perform well during the period under review.
YTL Power declared a second single tier interim dividend of 7.5% per share for the financial year ending 30 June 2010. The book closure and payment dates for the dividend are 17 March 2010 and 31 March 2010, respectively.
YTL CEMENT BERHAD
Half-Year Revenue Stands at RM931 Million
17% Growth in Profit Before Tax to RM201 Million
7.5% Single Tier Interim Dividend Declared
YTL Cementís revenue for the first six months of the financial year ending 30 June 2010 stood at RM931.2 million (US$273.9 mn), compared to RM950.9 million (US$279.7 mn) for the previous corresponding quarter ended 31 December 2008. Despite the marginal decrease in revenue, profit before taxation grew 17.2% to RM201.3 million (US$59.2 mn) this year, compared to RM171.7 million (US$50.5 mn) for the same period last year. The improvements in financial performance were due mainly to improved operational efficiencies and lower production costs for the period under review.
YTL Cement declared a second single tier interim dividend of 7.5% per share for the financial year ending 30 June 2010. The book closure and payment dates for the dividend are 17 March 2010 and 31 March 2010, respectively.
YTL LAND & DEVELOPMENT BERHAD
47% Increase in Revenue to RM181 Million
Profit Before Tax Grows to RM16 Million
YTL Land & Development reported a 47.2% increase in revenue to RM181.4 million for the 6 months ended 31 December 2009, compared to RM123.3 million for the same period last year. Profit before taxation grew to RM16.2 million this year over RM2.8 million last year, with the growth arising mainly as a result of overwhelming sales of completed units recorded for the Waterville and Parkville developments under the Lake Edge project, as well as higher progress recognition from Centrio, the latest phase of the Groupís iconic Pantai Hillpark development.
YTL E-SOLUTIONS BERHAD
29% Growth in Revenue to RM23 Million
Profit Before Tax Doubles to RM8.3 Million
YTL e-Solutions recorded a 29.5% increase in revenue to RM22.7 million for the first 6 months of the financial year ending 30 June 2010, over RM17.5 million for the same period last year. Profit before tax grew 99.1% to RM8.3 million this year, compared to RM4.2 million for the previous corresponding half-year ended 31 December 2008. This was attributed mainly to maiden fee income derived from a spectrum sharing agreement relating to its 2.3 GHz Worldwide Interoperability for Microwave Access (WiMAX) spectrum but partially offset by non-recurring project income recognized during the same period last year.