YTL Corp executive chairman Tan Sri Francis Yeoh Sock Ping
PETALING JAYA: YTL Corp Bhd
expects the performance of its business segments to remain resilient, going forward, as its major business segments are substantially engaged in essential services.
In a filing with Bursa Malaysia, the company said it will continue to closely monitor the related risks and impact on all its business segments.
In the fourth quarter ended June 30, 2024 (4Q24) net profit slipped to RM534.48mil compared with RM548.03mil in the previous corresponding period, while revenue in 4Q24 dipped to RM8.27bil from RM9.21bil a year earlier.
For the financial year ended June 30, 2024 (FY24), YTL Corp’s net profit rose to RM2.14bil from RM1.10bil in the previous corresponding period.
It recorded revenue of RM30.53bil in FY24, increasing 3% compared to RM29.62bil a year earlier.
YTL Corp declared an interim dividend of 4.5 sen per ordinary share, the book closure and payment dates for which are Nov 13, 2024 and Nov 29, 2024, respectively.
In a statement, executive chairman Tan Sri Francis Yeoh Sock Ping said the strong set of results was contributed by all business segments across the board, anchored by the utilities and cement divisions, with the construction, property, hotels and management services segments all turning in strong performances.
“The group’s earnings before interest, tax, depreciation and amortisation (ebitda) increased 37% to RM9.5bil for the 12 months ended June 30, 2024 compared to RM6.9bil last year.”
Meanwhile, YTL Power International Bhd recorded revenue of RM22.32bil in FY24, increasing 2% compared to RM21.89bil a year earlier.
Net profit improved to RM3.46bil from RM2.03bil in the previous corresponding period.
Yeoh said YTL Power’s results were primarily driven by better pre-tax profit recorded in the power generation segment in Singapore, as a result of better margins and lower interest expenses following early loan repayments.
“Improved performance of the water and sewerage segment in the United Kingdom was driven mainly by newly secured contracts in the non-household retail market and the price increase allowed by the industry regulator, whilst in the telecommunications segment, improved performance was achieved due to higher project revenue.”
Ebitda in FY24 increased 36% to RM7.2bil, compared to RM5.3bil last year.
YTL Power declared a second interim dividend of 4 sen per ordinary share in FY24, the book closure and payment dates for which are Nov 13 and Nov 29, 2024, respectively.
Combined with the first interim dividend of 3 sen per ordinary share declared in the last quarter, this amounts to a total dividend of 7 sen per ordinary share in respect of FY24.
Meanwhile, Malayan Cement Bhd’s net profit in FY24 urged 169% to RM429mil from RM159.2mil in the previous corresponding period, while revenue increased 18% to RM4.45bil compared to RM3.76bil a year earlier.
Yeoh said Malayan Cement’s higher revenue was due mainly to the stabilisation of the selling price for both domestic cement and ready-mixed concrete, in addition to continued improvements in operational efficiencies.
“Pre-tax profit for FY24 rose in tandem with the higher revenue, coupled with the moderation in coal prices,” he said.
Ebitda increased 52% to RM1.09bil in FY24, compared to RM718.8mil in FY23.
Malayan Cement declared a second interim dividend of 6 sen per ordinary share in respect of FY24, the book closure and payment dates for which are Oct 30, 2024 and Nov 15, 2024, respectively.
Combined with the first interim dividend of 4 sen per ordinary share declared in the last quarter, this amounts to a total dividend of 10 sen per ordinary share in respect of FY24.
