YTL Corp posts RM298mil net profit

Xeraya Capital is a venture capital and private equity firm focused exclusively on Life Sciences investments.

KUALA LUMPUR: YTL Corp Bhd reported a lower net profit of RM298.15mil in the third quarter ended March 31, 2018 compared with RM439.19mil recorded in the previous corresponding period.

Revenue, however, rose to RM3.88bil from RM3.72bil previously.

In a filing with Bursa Malaysia, it said for the nine months under review, the group recorded a lower net profit of RM908.63mil, down from RM1.01bil registered in the same period in 2017, while revenue expanded to RM11.71bil from RM10.83bil, previously.

“The construction segment saw an increase in revenue due to better site progress while cement manufacturing and trading's revenue was up on higher sales volume from all divisions,” YTL Corp said.

Meanwhile, YTL Land  and  Development Bhd slipped into the red after a RM37.47mil net loss in the same quarter versus a net profit of RM18.95mil made a year ago.

The Fennel and Dahlia developments , undertaken by Sentul Raya Sdn Bhd and PYP Sdn Bhd, respectively, are about to be completed as such progress billings were lower in the quarter under review which resulted in reduced group revenue.

“The U-Thant project undertaken by Budaya Bersatu Sdn Bhd also recorded lower revenue as the project is nearing completion,” it added. - Bernama