YTL Corp Q3 net profit up 57% to RM231m

YTL Corp Bhd has recorded a 57% increase in net profit to RM231.1mil for the third quarter ended March 31, 2004. The increase was largely due to recognition of deferred tax benefits by an associated company.  

The group’s pre-tax profit showed a marginal decline of 1.5% to RM245.3mil. Its revenue rose 14% to RM1.1bil in the third quarter. 

For the first nine months ended March 31, YTL Corp recorded revenue and pre-tax profit of RM3.3bil and RM898.4mil respectively, an increase of 11.8% and 24.5% from the previous corresponding period.  

YTL Power International Bhd’s net profit grew 18% to RM158.2mil for the three months ended March 31. Its pre-tax profit increased 28.8% to RM219.2mil during that period. 

The company now derives 63% of its revenue and 50% of its pre-tax profit from its regulated assets in Australia and Britain. 

YTL Cement Bhd’s net profit improved to RM20.6mil in the third quarter ended March 31 from RM19.7mil in the previous corresponding period.  

The better performance was mainly due to consolidation of the results of Pahang Cement Sdn Bhd. YTL Cement had, during the third quarter, acquired the remaining 50% stake in Pahang Cement which it did not already own, making the latter a wholly-owned subsidiary. 

YTL Land & Development Bhd’s net profit rose to RM4.0mil in the third quarter from RM1.0mil in the previous corresponding period.  

Both Sentul Raya Sdn Bhd, which is developing Sentul East and Sentul West, as well as property development companies acquired last year contributed to its higher profitability.  

YTL e-Solutions Bhd’s net profit declined marginally to RM1.3mil in the third quarter from RM1.7mil in the same quarter last year.  

Its revenue for the first nine months of its current financial year rose 23% to RM24.1mil. The revenue increase was mainly due to higher demand for YTL e-Solutions’ content management services and post-paid and pre-paid Alternative Voice Service Provider (AVSP) services provided by subsidiary Extiva Communications Sdn Bhd, and partly due to wholly-owned YTL Info Screen Sdn Bhd which is involved in creating and providing advertising content, media, web media and information via the electronic media. However, the higher revenue was offset by higher operating expenses due mainly to increased telecommunications cost in the AVSP market. 

 YTL :  [Stock Watch]  [News]

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