PETALING JAYA: YTL Corp Bhd
reported higher quarter-on-quarter (q-o-q) earnings for the second quarter ended Dec 31 (2Q26), supported by improved contributions across most of its business segments, while revenue remained largely stable.
The group recorded revenue of RM7.59bil for 2Q26, broadly unchanged from RM7.64bil in the preceding quarter. However, pre-tax profit rose 9% to RM1.06bil, while profit after tax increased 19% to RM788mil.
Executive chairman Tan Sri (Sir) Francis Yeoh Sock Ping said the group continued to deliver solid results, noting that revenue remained comparable to the 1Q26 while profitability improved due to stronger contributions from most operating divisions.
“The group continued to record solid results in the second quarter of the 2026 financial year (FY26). Revenue approximated that of the previous quarter whilst the higher profit before tax was the result of increased contributions from all business segments save for the construction and utilities segments,” he said.
For the first half ended Dec 31 (1H26), group earnings before interest, tax, depreciation and amortisation stood at RM4.5bil, slightly lower than RM4.7bil recorded in the corresponding period a year earlier.
At its key subsidiary YTL Power International Bhd, quarterly performance softened amid external factors affecting its overseas operations. The power and utilities arm posted revenue of RM5.25bil in 2Q26, down from RM5.36bil in the preceding quarter, while pre-tax profit declined 9% to RM603.8mil and profit after tax slipped 5% to RM462.3mil.
Yeoh said the performance remained satisfactory, attributing the decline primarily to lower vesting margins in the Singapore power generation business and a higher unrealised foreign exchange loss on a shareholder loan related to the group’s Jordan project.
These factors were partially offset by stronger contributions from its data centre operations.
He also highlighted currency translation effects, noting that the strengthening ringgit reduced reported earnings as a significant portion of YTL Power’s income is generated in foreign currencies including the US dollar, the Singapore dollar and the sterling.
Meanwhile, Malayan Cement Bhd delivered improved quarterly results, supported by cost efficiencies and operational enhancements. Revenue rose 4% q-o-q to RM1.26bil, while pre-tax profit increased 14% to RM329.8mil and profit after tax climbed 16% to RM233.3mil.
Yeoh said higher profitability was mainly driven by reduced energy costs and improved operational efficiencies arising from optimisation initiatives involving artificial intelligence and other advanced technologies.
The cement producer declared an interim dividend of six sen per share for the financial year ending June 30, 2026, payable on March 27, 2026.
Within the group’s real estate investment trust segment, YTL Hospitality Real Estate Investment Trust (REIT) recorded improved operating metrics during the quarter.
Revenue increased 10% to RM154.5mil, while net property income rose 11% to RM85.9mil. Income available for distribution stood at RM28.9mil, slightly lower than the previous quarter’s RM29.5mil.
According to Yeoh, the hotel segment benefited from seasonal demand that supported higher occupancy and room rates, while the property rental segment maintained stable performance.
The REIT declared an interim distribution of 3.0811 sen per unit for the six-month period ended Dec 31, with total distributions amounting to RM52.5mil, equivalent to approximately 90% of cumulative distributable income for the period.
Overall, the group’s second-quarter performance reflected resilient earnings growth driven by diversified business contributions, even as certain segments faced margin pressures and currency headwinds.
