YTL Corp pre-tax profit jumps 39% to RM1.16bil


BY IZWAN IDRIS

YTL Corp Bhd has recorded a 39% jump in pre-tax profit to RM1.16bil for the fiscal year ended June 30, as revenue improved by 9% to RM4.4bil from the previous year on better operating results by its subsidiaries. 

However, pre-tax earnings in the fourth quarter were 9.6% lower at RM260mil against RM288mil in the previous corresponding period. Revenue was flat at RM1.098bil.  

“The decrease in pre-tax profit for the current financial quarter was mainly due to reduction in contribution from the power generation business and investment income,'' the company told Bursa Malaysia yesterday. 

Compared with the immediate preceding quarter, fourth quarter pre-tax income was higher than the RM245mil made in the third quarter on stronger contribution by its foreign units.  

YTL Power International Bhd's before-tax profit surged 34% higher at RM843mil versus RM629mil a year earlier. Turnover improved to RM3.39bil from RM3.17bil. 

Three months to June 30 pre-tax profit was higher at RM194mil against RM182mil registered in the same quarter last year. 

YTL Cement Bhd's performance also improved in the year ended June 30, propelled by consolidation of income from Pahang Cement Sdn Bhd.  

The cement manufacturer made a pre-tax profit of RM100mil against RM80mil previously. Revenue rose in tandem to RM151mil from RM118mil. 

Property unit YTL Land & Development Bhd's pre-tax earnings almost doubled to RM37mil from RM20.5mil in the previous year. Revenue for the year ended June 30, 2004 was 180% higher at RM122mil against RM43mil previously. 

“The increase in revenue and profits was due to the consolidation of full year results of subsidiaries acquired in the previous financial year and improved contribution from Sentul Raya Sdn Bhd,'' the company said. 

The pre-tax profit for the year was also higher due to write-backs of overprovision of losses made previously. 

YTL E-Solutions Bhd however, saw lower profits on higher start-up costs incurred by a subsidiary. The company made a pre-tax profit of RM12.6mil for the year ended June 30, 2004 against RM13.7mil before. 

Turnover improved to RM32mil from RM26mil on higher demand for its content development services, and the post-paid and pre-paid alternative voice service provider business. 

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