Utilities and cement ops drag down YTL profit

Tenaga Nasional Bhd says the 21-year power purchase agreement with YTL Power Generation Sdn Bhd has expired on Sept 30, 2015.

PETALING JAYA: YTL Corp Bhd reported earnings of RM147.7mil in its second quarter ended Dec 31, 2016 (Q2’16), a 37% drop from a year earlier, mainly due to the weaker results of its utilities and cement businesses.

The group, which is also involved in construction, property development and investment, and hotel operations, told Bursa Malaysia that its revenue slipped 8% to RM3.62bil compared with the preceding year’s corresponding quarter.