YTL Corp Q3 net profit falls to RM298.15m

YTL Corp’s revenue rose to RM3.88 billion from RM3.72 billion previously. — Reuters pic
YTL Corp’s revenue rose to RM3.88 billion from RM3.72 billion previously. — Reuters pic

KUALA LUMPUR, May 24 ― YTL Corporation Bhd (YTL Corp) reported a lower net profit of RM298.15 million in the third quarter (Q3) ended March 31, 2018 compared with RM439.19 million recorded in the previous corresponding period.

Revenue, however, rose to RM3.88 billion from RM3.72 billion previously.

In a filing with Bursa Malaysia, it said for the nine months under review, the group recorded a lower net profit of RM908.63 millio, down from RM1.01 billion registered in the same period in 2017, while revenue expanded to RM11.71 billion from RM10.83 billion, previously.

“The construction segment saw an increase in revenue due to better site progress while cement manufacturing and trading's revenue was up on higher sales volume from all divisions,” YTL Corp said.

Meanwhile, YTL Land & Development Bhd slipped into the red after a RM37.47 million net loss for the Q3 ended March 31, 2018, versus a net profit of RM18.95 million registered in the same quarter last year, while revenue plunged to RM4.95 million from RM144.82, previously.

The Fennel and Dahlia developments, undertaken by Sentul Raya Sdn Bhd and PYP Sdn Bhd, respectively, are about to be completed as such progress billings were lower in the quarter under review which resulted in reduced group revenue.

“The U-Thant project undertaken by Budaya Bersatu Sdn Bhd also recorded lower revenue as the project is nearing completion,” it added. ― Bernama

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