Kuala Lumpur, 24 November 2005
YTL CORPORATION BERHAD
YTL Corp 1st Quarter Net Profit Up 14% to RM184 Million (USD49 Million)
Sales Up 15% to RM1.36 Billion (USD360 Million)
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YTL Corporation Berhad today announced revenue of RM1,357.6 million (USD360.3 mil, based on the prevailing exchange rate of USD1.00:RM3.77) for the first quarter of the financial year ending 30 June 2006, a 15.2% increase over RM1,178.1 million (USD312.7 mil) in the previous corresponding quarter ended 30 September 2004.??
In line with the increase in revenue, the Group’s profit before taxation grew 21.2% to RM378.9 million (USD100.6 mil) for the quarter ended 30 September 2005, compared to RM312.8 million (USD83.0 mil) for the previous corresponding quarter ended 30 September 2004.? Net profit increased 13.9% to RM183.7 million (USD48.8 mil) against RM161.3 million (USD42.8 mil) last year.
The improved financial performance was predominantly due to better operating results from the Group’s cement manufacturing activities, as well as increased contributions from the utilities division.
Remarking on the first quarter performance, Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping said, “The utilities division continues to be the Group’s star performer, generating solid revenues and profits, quarter after quarter, year after year.?Price stabilisation in the cement industry has also boosted the performance of our cement division.?Overall, the quarter’s results indicate that this is shaping up to be another strong year for the Group”.
In addition, on 22 November 2005, the Group launched its Starhill Real Estate Investment Trust (“Starhill REIT”), which is scheduled to be listed on Bursa Malaysia Securities Berhad in December 2005 with a fund size of 1.04 billion units.?Starhill REIT will be the Group’s 6th publicly listed vehicle in Malaysia.