Friday 29 Mar 2024
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KUALA LUMPUR (May 26): YTL Corp Bhd's net profit for the third quarter ended March 31, 2016 (3QFY16) fell slightly by 1.4% to RM229.88 million or 2.21 sen a share from RM233.17 million or 2.24 sen a share a year ago.

Revenue was 9.6% lower at RM3.62 billion against RM4 billion previously, the group said in its filing to the stock exchange today.

The group reported a decrease in profitability for its information technology and e-commerce related businesses, as well its property investment and development business, and utilities business.

For the nine months ended March 31 (9MFY16), YTL Corp posted a net profit of RM667.41 million or 6.41 sen a share, 13.4% lower than the RM770.81 million or 7.43 sen a share reported for 9MFY15.

Revenue for 9MFY16 decreased 5.5% to RM12 billion from RM12.7 billion year ago.

YTL Corp said it expects its construction, information technology, cement manufacturing, property investment and hotels divisions to remain satisfactory.

As for its utilities division, the group said negotiations are underway with Tenaga Nasional Bhd on the signing of a new power purchase agreement for the supply of power from the existing facility in Paka, , under the short-term capacity bid called by the Malaysian Energy Commission.

Its water and sewerage division Wessex Water, which operates under a strict regulatory regime, is confident of delivering its 2015 to 2020 regulatory outperformance target by restructuring its business objectives, the group said.

YTL Corp said its telecommunication division will add Long Term Evolution (LTE) services to its network in the near future in an effort to continuously grow its subscriber base to generate higher revenue.

At the closing bell today, YTL Corp shares were unchanged at RM1.60, for a market capitalisation of RM16.67 billion.

 

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