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YTL Corporation records RM722 million (US$190 million) profit
for 9 months ended 31 March 2003
 
29% PROFIT GROWTH FOR YTL CORPORATION BERHAD
Turnover Grows 57% to RM2.95 Billion (US$776.3 million)

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YTL Corporation Berhad recorded revenue of RM2,950 million (US$776.3 million) for the nine months ended 31 March 2003, representing an increase of 57% as compared to the Group’s revenue of RM1,880 million (US$494.7 million) for the previous year corresponding period.

Profit before taxation increased by 29% to RM722 million (US$190 million) in the period under review from RM561 million (US$147.6 million) in the nine months ended 31 March 2002.

The increases in both amounts are substantially attributable to the consolidation of the financial results of the Wessex Water Group.
 
126% GROWTH IN REVENUE FOR YTL POWER INTERNATIONAL BERHAD
Profit Increases 22% to RM565 Million (US$148.7 million)

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YTL Power International Berhad achieved an increase in turnover to RM2,298 million (US$604.7 million) for the nine months ended 31 March 2003 from RM1,016 million (US$267.4 million) in the previous year corresponding period. This represents an increase in turnover of RM1,281.4 million (US$337.2 million) or 126%.

Profit before taxation increased by 22% to RM565 million (US$148.7 million) in the nine months ended 31 March 2003 as compared to the preceding year corresponding period.

The increases in turnover and profit before tax are attributed substantially to the acquisition of the Wessex Water Group, with approximately 57% of turnover derived from overseas operations.
 
YTL CEMENT BERHAD RECORDS RM60 MILLION (US$15.7 MILLION) PROFIT
26.6% Growth in Quarterly Profit

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During the period under review, YTL Cement Berhad’s strong performance continued with revenue of RM308.4 million (US$81.2 million) and profit before taxation of RM59.8 million (US$15.7 million). These figures represent reductions of 0.2% in revenue and 1.9% in profit before taxation compared to the preceding year corresponding period.

However, performance improved as compared to the previous quarter ended 31 December 2002, with revenue increasing by 23.5% and profit before tax growing by 26.6%. The favourable results for the current quarter are attributable to stable prices and improvement of cement consumption in the construction industry.
 
ACQUISITION OF NEW PROPERTY DEVELOPMENT COMPANIES BOOSTS PROFIT OF YTL LAND & DEVELOPMENT BERHAD
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YTL Land & Development Berhad (“YTL L&D”) recorded revenue for the third quarter ended 31 March 2003 of RM10.3 million (US$2.7 million) and profit before taxation of RM4.7 million (US$1.2 million).

Profit before taxation increased by 1,669% to RM4.7 million (US$1.2 million), comparing favourably with a loss before taxation of RM0.295 million (US$77,600) for the financial period ended 31 March 2002. The profit jump was predominantly due to contribution from new property development companies, the acquisitions of which were completed during the quarter under review.
 
139% PROFIT GROWTH FOR YTL E-SOLUTIONS BERHAD
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YTL e-Solutions Berhad (“YTL e-Solutions”) recorded revenue of RM19.5 million (US$5.1 million) for the nine months ended 31 March 2003, representing an increase of 101% or RM9.8 million (US$2.6 million) over the previous year corresponding period. Profit before taxation for the period under review increased by 139% to RM9.8 million (US$2.6 million).

YTL e-Solutions’ continued growth is attributed to higher demand for the Group’s products and services, including digital display technology, IT consultancy services and communications technology, such as Voice Over Internet Protocol (VoIP) telephony services. During the current quarter, YTL e-Solutions also acquired Intellectual Learning Sdn Bhd, which provides e-learning services.


Report released: Kuala Lumpur, 22 May 2003

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