YTL net profit for Q1 doubles

YTL Corp Bhd has posted a significantly better profit for its first quarter ended Sept 30, with its net more than doubling to RM236.4mil from RM103.7mil in the previous corresponding quarter. 

The net profit represented earnings per share of 16.3 sen compared with 7.14 sen a year ago. 

YTL said the group's first-quarter revenue stood at RM1.08bil, surpassing the previous year's RM978.1mil. 

Profit before tax was at RM374.2mil compared with RM233mil previously. 

The group attributed the substantially better revenue and profit to gains from disposal of some quoted investments. 

In terms of sectoral performance, YTL said its revenue chiefly came from water and sewerage operations, accounting for 43% or RM465.6mil of the total. Other contributing sectors were power generation and transmission (RM313.1mil), manufacturing and trading (RM141.1mil), management services and other business (RM50.9mil), construction (RM42.2mil), property investment and development (RM34.2mil), hotel (RM28.4mil) and information technology and e-commerce (RM6.9mil). 

Its power unit, YTL Power International Bhd, chalked up revenues of RM818.3mil for its first quarter. This compares with RM772.6mil in the previous corresponding period. 

YTL Power's net profit was at RM156.7mil versus RM152.1mil previously, representing earnings per share of 6.94 sen compared with 6.72 sen in the year-ago period. 

The independent power producer also reported a higher profit before tax to RM213.5mil from RM203.3mil. 

As for its cement operations, YTL Cement Bhd registered revenues of RM130.6mil for the first quarter against RM95.5mil in the previous corresponding period. 

Its net profit rose to RM22.6mil from RM13.96mil, translating to an earnings per share of 16.06 sen compared with 10.03 sen previously. 

YTL said the better performance of its cement operations was due to higher demand for cement products. 

YTL group also saw stronger financial performance at its IT and e-commerce unit, with YTL E-Solutions Bhd posting RM8.5mil in revenues and RM2.3mil in net profit for the first quarter. Its revenue and net profit in the previous corresponding quarter were RM5.5mil and RM1.9mil respectively. 

Its earning per share was 1.7 sen against 1.45 sen previously. 

Its property unit YTL Land and Development Bh d registered revenue of RM20.9mil in the first quarter versus RM232,000 in the previous corresponding quarter. 

Its net profit was RM2.1mil or 1.33 sen per share compared with RM2mil or 1.56 sen per share previously. 

 Stock Watch On YTL

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