YTL sees better second half results

YTL Corp Bhd has reported a higher net profit of RM361.2mil for the first half-year ended Dec 31, 2003 from RM220.4mil in the previous corresponding period on better operating performance by companies within the group. 

Pre-tax profit improved to RM653.1mil during the six months from RM472.7mil in the same period a year earlier while revenue climbed to RM2.2bil from RM1.99bil. Earnings per share rose to 24.93 sen from 15.19 sen. 

YTL Corp managing director Tan Sri Francis Yeoh said he was “very pleased'' with the results.  

“Our management has responded well to the challenging economic environment and I am cautiously confident the second half will do as well. So far, I do not see any imminent dark clouds,'' he said in a statement yesterday. 

In a statement to the MSEB, YTL Corp said it expected to achieve a satisfactory performance for its financial year ending June 30, 2004 given the current level of operations and market conditions. 

YTL Corp's power unit, YTL Power International Bhd, reported a net profit of RM314.2mil for the period under review, up from RM295.4mil in the previous first half. 

Pre-tax profit improved to RM430.3mil from RM395.2mil previously while revenue rose to RM1.65bil from RM1.57bil. Earnings per share rose to 13.93 sen from 13.05 sen. 

YTL Cement Bhd also reported higher profits of RM40mil for the six-month period compared with RM30mil before. Its pre-tax profit improved to RM48.2mil from RM36.4mil while revenue climbed to RM238.6mil from RM190.7mil previously. Earnings per share rose to 27.77 sen from 21.49 sen. 

The results of YTL Land & Development Bhd experienced a big leap, with net profit for the six months rising to RM9.7mil from RM3.4mil in the previous corresponding period on a huge improvement in revenue to RM43.7mil from RM437,000 previously. Pre-tax profit jumped to RM12.4mil from RM3.4mil before while earnings per share rose to 6.24 sen from 2.63 sen. 

MESDAQ-listed YTL e-Solutions Bhd chalked up a net profit of RM4.1mil for its half-year ended Dec 31, 2003, compared with RM3.6mil in the same period a year ago on higher revenue of RM16.3mil against RM12mil before. 

Pre-tax profit improved to RM7.3mil from RM6.6mil while earnings per share climbed to 3.03 sen from 2.7 sen.  

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