YTL Corp’s 4Q net profit rises 2.6% to RM338.87 mil, declares 9.5 sen dividend

by **Cals** Fri 29 Aug 2014, 00:39

Business & Markets 2014

Written by Wei Lynn Tang of theedgemalaysia.com

Thursday, 28 August 2014 19:36

KUALA LUMPUR (Aug 28): YTL Corp Bhd’s net profit for the fourth quarter ended June 30, 2014 (4QFY14) rose marginally by 2.6% to RM338.87 million, from RM330.28 million in the previous corresponding quarter.

Revenue, however, came in 9.6% lower at RM4.5 billion, compared with RM5.03 billion in 4QFY13.

For the full year ended June 30 (FY14), YTL Corp’s net profit rose 20.8% to RM1.54 billion, from RM1.27 billion in FY13. Revenue however, slipped to RM19.21 billion, from RM19.97 billion in the previous year.

YTL Corp declared an interim dividend of 9.5 sen or 95% per share, bringing total dividend for the financial year to 12 sen per share.

In a statement, YTL group managing director Tan Sri Francis Yeoh Sock Ping said: “Our cement, property development and investment and hotel divisions all registered good growth, whilst in our utilities division, the power generation, water and sewerage and mobile broadband segments, all turned in strong performances, offsetting lower sales in our merchant multi-utilities division.”

Yeoh said the jump in net profit was contributed by the group’s cement business, which saw better performance in the concrete and quarry segments, as well as the net fair value gains on investment properties, recorded by the group’s REITs, YTL Hospitality REIT in Malaysia and Starhill Global REIT in Singapore.

Meanwhile, YTL Power International Bhd also declared an interim dividend of 10 sen, while YTL e-Solutions Bhd declared an interim dividend of 4 sen per share.