YTL Corp posts stellar FY23 results


YTL Corp executive chairman Tan Sri Francis Yeoh Sock Ping

PETALING JAYA: YTL Corp Bhd’s revenue increased by 22% to RM29.5bil for the financial year ended June 30, 2023 (FY23), while its net profit grew 42% to RM2.05bil.

For the fourth quarter, the group’s revenue grew 48% to RM9.1bil, while net profit surged 183% to RM1.07bil.

YTL Corp also declared an interim dividend of four sen per ordinary share, the book closure and payment dates for which are Nov 10 and Nov 29, 2023, respectively.

In a statement, executive chairman Tan Sri Francis Yeoh Sock Ping said the group achieved outstanding results this financial year, with record-high revenue and pre-tax profit (of RM2.7bil).

“Our utilities segment accomplished excellent results driven mainly by the power generation division. The cement division also turned in better performance resulting from increased demand and better selling prices.

“Meanwhile, our hotels segment delivered significantly improved performance stemming from the recovery of the global tourism industry.”

Additionally, Yeoh said the group’s earnings before interest, tax, depreciation and amortisation (ebitda) for FY23 increased 31% to RM6.9bil, compared to RM5.2bil in the previous corresponding period.

Segmentally, the group’s power producing unit, YTL Power International Bhd, saw its revenue grow 23% to a record-high of RM21.89bil in FY23, while net profit increased 39% to RM2.03bil.

For the fourth quarter of FY23, the company’s revenue grew 56% to RM7.09bil, while net profit jumped 202% to RM1.16bil.

YTL Power declared an interim dividend of 3.5 sen per ordinary share, bringing total dividend FY23 to six sen per ordinary share.

Yeoh, who is executive chairman for YTL Power, said the significant improvement in the performance was driven primarily by higher retail and pool prices in the company’s power generation business.

“With about 97% of the YTL Power group’s revenue being generated from overseas businesses, the results were also bolstered by forex gains for the 12 months under review”

“EBITDA for FY23 showed robust growth, increasing 37% to RM5.3bil, compared to RM3.9bil last year.”

Meanwhile, Malayan Cement Bhd’s revenue increased 39% to RM3.76bil in FY23, while net profit increased 94% to RM159.2mil.

For the fourth quarter of FY23, revenue grew 26% to RM1.01bil, while net profit surged 136% to RM79.7mil.

Malayan Cement declared an interim dividend of six sen per ordinary share, the book closure and payment dates for which are Nov 2 and Nov 21, 2023, respectively.

Yeoh, executive chairman for Malayan Cement, said the company achieved a stellar set of results for FY23, thus enabling it to once again reward shareholders with dividends.

“The robust performance was driven by the full consolidation of the new cement and ready-mixed concrete businesses acquired in Sept 2021, as well as the higher sales volume and selling price of domestic cement and ready-mixed concrete.

“Ebitda grew 41% to RM718.8mil in FY23,” he said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

YTL Corp , YTL Power , Malayan Cement , dividend

   

Next In Business News

HLI 2Q net profit up 39.4%
IEA on a mission to reinvent itself at 50
Sime Darby 2Q earnings soar
Co-labs to expand network
Sunway posts record high revenue for FY23
SunCon wins RM721mil contract
KLK redesignates Lee Oi Hian as executive chairman
Sunway optimistic of 2024 financial performance
Apex optimistic on healthcare growth prospects
Hong Leong Industries posts higher 2Q net profit of RM102.47mil

Others Also Read