This article first appeared in The Edge Financial Daily on August 30, 2018

KUALA LUMPUR: YTL Corp Bhd fell into the red in the fourth quarter ended June 30, 2018 (4QFY18), posting a net loss of RM43.36 million or 0.41 sen a share, versus a net profit of RM229.33 million or 2.2 sen a share in the same period last year, mainly due to higher losses from the management services and others division.

The loss before taxation in the division was primarily due to the absence of one-off adjustments arising from accounting treatment in relation to a loan restructuring undertaken an associated company and higher finance costs, coupled with fair value changes in investments and derivatives incurred YTL Power International Bhd.

Revenue for the quarter rose 6.47% to RM4.15 billion from RM3.9 billion in 4QFY17.

The group declared an interim dividend of four sen per share for the financial year ending June 30, 2018 (FY18), payable on Nov 13.

For the full year, net profit plunged 55.51% to RM361.88 million or 3.44 sen per share, from RM813.31 million or 7.74 sen per share in the previous year. At the same time, revenue improved 7.67% to RM15.86 billion, against RM14.73 billion a year ago.

The group expects to achieve a satisfactory performance in FY19. YTL Corp shares closed down one sen or 0.75% to RM1.33 yesterday, valuing it at RM14.07 billion.