YTL Corp's 4Q net profit down 15.6%, declares 9.5 sen dividend

YTL Corp's 4Q net profit down 15.6%, declares 9.5 sen dividend
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KUALA LUMPUR (Aug 20): Malaysian infrastructure conglomerate YTL Corp Bhd saw a 15.6% decline in net profit to RM298.93 million or 2.87 sen a share, for its fourth quarter ended June 30, 2015 (4QFY15), from RM354.07 million or 3.42 sen a share a year ago, amidst wider loss in hotel division and lower contribution from property development.

This came on the back of lower revenue of RM4.11 billion, which fell 10.63% from RM4.6 billion last year.

The group declared an interim single tier dividend of 9.5 sen per share, payable on Oct 23.  

According to its filing to Bursa Malaysia, YTL Corp attributed the decline in quarterly net profit to lower contribution from information technology and e-commerce related business, cement manufacturing and trading, property investment and development, hotels and utilities.  

The hotel segment's losses has widened to RM21.32 million, from RM14.48 million.  

The profit before tax (PBT) for property investment and development plunged to RM57.27 million, from RM258.63 million.
 
For the full year, YTL's net profit stood at RM1.07 billion or 10.27 sen a share, down nearly 31% from the RM1.55 billion or 15 sen a share achieved in FY14.

Revenue for FY15 was also lower at RM16.82 billion, a 12.7% decrease from RM19.27 million a year ago.

According to its filing, YTL Corp attributed the lower net profit to lower contribution from cement manufacturing and trading, property investment and development and utilities.  

Its cement manufacturing and trading segment posted a 7.9% increase in revenue to RM2.86 million, from RM2.65 million, but profit before tax (PBT) decreased 9.6% to RM600.5 million, from RM664 million for FY15.  

Its property investment and development recorded a 77.9% decline in PBT to RM57.3 million, from RM258.6 million, despite revenue having improved 8.1% to RM243.9 million, from RM225.7 million in FY14.  

Its utilities segment posted a decline in PBT of 12.5% to RM1.24 billion, from RM1.41 billion, while revenue became weaker by 17.9% to RM11.75 billion, from RM14.31 billion.  

Shares in YTL Corp (fundamental: 1.2; valuation: 1.4) closed one sen or 0.68% higher at RM1.48 today, for a market capitalisation of RM15.32 billion.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)