Kuala Lumpur, Thursday 26 May 2016
YTL Corporation Berhad announced today revenue of RM12,004.5 million (US$2,964.1 mn) for the 9 months ended 31 March 2016, decreasing from RM12,705.8 million (US$3,137.2 mn) for the preceding corresponding 9 months ended 31 March 2015. Profit for the period stood at RM1,170.7 million (US$289.1 mn) for the first 3 quarters of the financial year ending 30 June 2016, compared to RM1,326.6 million (US$327.6 mn) for the comparative period last year.
YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The Group registered a stable set of results for the first 3 quarters of the 2016 financial year, as operating conditions remain tough in some of our key markets. Better results for the 9 months under review were contributed mainly by our cement, construction and hotels divisions, offset mainly by lower revenues in the utilities segment.
"Our key utilities division continues to face lower vesting volumes and retail margins in the multi-utilities segment in Singapore, in addition to the absence of revenue from the contracted power generation segment following the successful completion of the power purchase agreement for our Malaysian power stations during the first quarter of the financial year.
"On the REIT front, the absence of fair value gains on investment properties under our Starhill Global REIT in Singapore during the current quarter also impacted performance, coupled with unrealised foreign exchange losses on an Australian Dollar denominated term loan recorded by YTL Hospitality REIT."
YTL POWER INTERNATIONAL BERHAD
YTL Power Registers 9-Month Revenue of RM8.1 Billion (US$2.0 Billion)
Profit Stands at RM686 Million (US$169 Million)
YTL Power registered revenue of RM8,078.8 million (US$1,994.8 mn) for the 9 months ended 31 March 2016 compared to RM9,078.7 million (US$2,241.6 mn) for the preceding year corresponding period ended 31 March 2015, whilst profit for the period stood at RM685.6 million (US$169.3 mn) this year over RM707.8 million (US$174.8 mn) for the same period last year.
The Group's water and sewerage division recorded better performance due to the weakening of the Ringgit against the British Pound. In the power generation division, the significant drop in revenue and profit arose upon the successful completion on 30 September 2015 of the Group's power purchase agreement for its Malaysian power stations.
Meanwhile, the merchant multi-utilities business in Singapore was impacted by lower fuel oil prices, coupled with lower vesting volumes and retail margins, whilst the Group's local mobile broadband division saw ongoing growth in its subscriber base, thereby lowering the segment's losses for the period under review.
YTL LAND & DEVELOPMENT BERHAD
YTL Land Achieves 9-Month Revenue of RM134 Million & Profit of RM17 Million
YTL Land's revenue increased to RM133.9 million for the 9 months ended 31 March 2016, compared to RM69.3 million for the preceding year corresponding period ended 31 March 2015, whilst profit for the period increased to RM16.9 million this year compared to RM13.1 million last year. The improved financial performance was due to better site progress on the Group's Fennel project in Sentul and a share of profits from Shorefront Development Sdn Bhd, a joint-venture for The Shorefront, in Penang.
YTL E-SOLUTIONS BERHAD
YTL e-Solutions Registers 9-Month Revenue of RM64 Million & Profit of RM43 Million
YTL e-Solutions registered revenue of RM63.8 million for the 9 months ended 31 March 2016 compared to RM66.5 million for the preceding year corresponding period ended 31 March 2015, whilst profit for the period decreased marginally to RM43.2 million this year over RM44.0 million last year. The decrease arose mainly due to lower revenue recognized from the content and digital media segment and lower interest income on cash deposits during the period under review.
YTL HOSPITALITY REIT
YTL Hospitality REIT Registers 9-Month Revenue of RM325 Million
Distributable Income Increases to RM79 Million
Interim Distribution of 1.9175 Sen per Unit Declared
YTL Hospitality REIT registered revenue of RM325.1 million for the 9 months ended 31 March 2016, increasing by 0.5% compared to RM323.4 million for the preceding year corresponding period ended 31 March 2015. Net property income decreased to RM151.6 million for the 9 months under review compared to RM159.2 million for the same period last year, resulting mainly from lower contribution by the Brisbane Marriott.
The Group recorded a loss before tax of RM0.4 million for the 9 months under review, compared to profit before tax of RM39.8 million for the same period last year, mainly due to an unrealised foreign currency translation loss of RM24.8 million relating to an Australian Dollar denominated loan. An increase in depreciation charges and finance costs during the current financial period also contributed to the decrease. However, income available for distribution increased to RM78.7 million for the 9 months ended 31 March 2016 compared to RM74.8 million for the same period last year, an increase of 5.2% after adjustment for non-cash items.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9175 sen per unit, the book closure and payment dates for which are 10 June 2016 and 30 June 2016, respectively. The Trust's income distribution for the quarter under review amounts to RM25.4 million, whilst the total cumulative income distribution paid and declared for the 9 months ended 31 March 2016 is 5.7525 sen per unit, amounting to RM76.2 million, representing approximately 97% of total distributable income.