YTL Corp’s 9-month net profit surges 186% to RM2.8bil
KUALA LUMPUR: YTL Corp Bhd ’s revenue rose 9% to RM22.2bil in the first nine months to March 31 (9M24), compared with RM20.4bil in the same corresponding period last year.

The conglomerate’s pretax profit jumped 173% to RM3.56bil in 9M24 against RM1.3bil for the same period last year while net profit surged 186% to RM2.8bil compared with RM979.7mil achieved last year.

“We continued to see strong results through the third quarter of the 2024 financial year, with profit after tax up 186% and revenue increasing 9%, driven by better performance across the group. All divisions contributed to the higher profit seen for the nine months under review.

“The group’s Ebitda (earnings before interest, tax, depreciation and amortisation) increased 64% to RM7bil in 9M24 compared to RM4.3bil for the same period last year,” executive chairman Tan Sri Francis Yeoh Sock Ping said in a statement.

YTL Power International Bhd posted an 8% increase in revenue to RM15.98bil in 9M24 compared to RM14.8bil in the previous corresponding 9M23.

Profit before tax increased 164% to RM2.87bil for the nine months under review compared to RM1.09bil for the same period last year, whilst profit after tax grew 176% to RM2.39bil this year over RM866mil for the same period last year.

YTL Power declared an interim dividend of 3.0 sen per ordinary share for the financial year ending June 30, 2024 (FY24). The book closure and payment dates are June 12 and June 28 respectively.

Yeoh, who is also the executive chairman of YTL Power, noted that the group achieved strong growth for the nine months under review, driven primarily by better margins in the power generation segment.

“The water and sewerage segment recorded higher revenue due to new contracts secured within the non-household retail market and the price increase allowed by the industry regulator”.

YTL Power’s Ebitda for the 9M24 increased 68% to RM5.2bil against RM3.1bil for the same period last year.

Meanwhile, Malayan Cement Bhd ’s profit after tax rose 301% to RM318.7mil in 9M24 compared with RM79.5mil in the same period last year.

Its revenue grew 24% to RM3.4bil during the period against RM2.74bil posted a year ago.

Malayan Cement declared an interim dividend of 4.0 sen per ordinary share in respect of FY24. The book closure is set for June 11, with payment scheduled for June 26.

“Malayan Cement’s better performance for the 9 months under review was attributed to stabilisation of the selling price for both domestic cement and ready-mixed concrete, coupled with continued improvements in operational efficiencies,” Yeoh said.

Ebitda rose 93% to RM907.4mil in 9M24 compared to RM469.4mil for the same period last year.

YTL Hospitality REIT ’s revenue increased 15% to RM424.7mil in 9M24 compared to RM369.3mil achieved in 9M23.

Net property income (NPI) increased by 17% to RM223.7mil during the period under review, up from RM191.3mil in the same period last year.

Income available for distribution also rose by 26%, reaching RM106.1mil this year compared to RM84.2mil last year.

“Improved performance of the trust’s Australian portfolio was driven by increased international arrivals owing to entertainment and sports events held in Sydney and Brisbane, which drove up average daily room rates and occupancy rates.

“In the property rental segment, better performance was due to rental income from the new Hotel Stripes Kuala Lumpur, acquired on Oct 31, 2023, and step-up rental from the renewal of the lease agreement for the JW Marriott Hotel Kuala Lumpur,” Yeoh said.
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KUALA LUMPUR: YTL Corp Bhd’s revenue rose 9% to RM22.2bil in the first nine months to March 31 (9M24), compared with RM20.4bil in the same corresponding period last year.