(25th May 2024, Singapore) YTL Corporation Berhad recorded revenue of SGD 6.2 billion for the 9 months ended 31 March 2024, a 9% increase compared to SGD 5.8 billion for the previous corresponding 9 months ended 31 March 2023.
Profit before tax grew 173% to 1.2 billion for the 9 months under review compared to 375 million for the same period last year, whilst profit after tax rose 186% to 804.5 million this year.
Executive Chairman, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, “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 SGD 2bil in 9M24 compared to SGD1.2bil 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 SGD 4.5 bil in 9M24 compared to SGD 4.2 bil in the previous corresponding 9M23.
Profit before tax increased 164% to SGD 821 million for the nine months under review compared to SGD 312 million for the same period last year, whilst profit after tax grew 176% to SGD 684 million this year over SGD 247 million 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.
Meanwhile, Malayan Cement Bhd’s profit after tax rose 301% to SGD 91 million in 9M24 compared with SGD 6 million in the same period last year. Its revenue grew 24% to SGD 973 million period against SGD784 million 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,” said Yeoh.
“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 31 October 2023, and step-up rental from the renewal of the lease agreement for the JW Marriott Hotel Kuala Lumpur,” said Yeoh.
