YTL Corp net profit soars to RM105.22m in Q3

YTL Corporation Bhd’s net profit for the third quarter ended September 30, 2021 jumped to RM105.22 million from RM1.29 million registered in the corresponding period a year ago, it said in a filing with Bursa Malaysia today. — Bernama pic
YTL Corporation Bhd’s net profit for the third quarter ended September 30, 2021 jumped to RM105.22 million from RM1.29 million registered in the corresponding period a year ago, it said in a filing with Bursa Malaysia today. — Bernama pic

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KUALA LUMPUR, Nov 25 — YTL Corporation Bhd’s net profit for the third quarter ended September 30, 2021 jumped to RM105.22 million from RM1.29 million registered in the corresponding period a year ago.

Revenue for the period under review increased to RM5.06 billion from RM4.18 billion a year ago.

“Increase in the revenue was attributed to the higher revenue contribution from all business segments except for the cement and building materials industry segments,” YTL said in a filing with Bursa Malaysia today.

The company also said the significant increase in profit after tax was mainly attributable to the sale of land recorded by the property investment and development segment and the absence of recognition of deferred tax expenses arising from the increase in United Kingdom corporate tax to 25 per cent from 19 per cent with effect from April 1, 2023, in the preceding quarter,” it added.

On the prospects, YTL said although the outlook of pandemic containment remained uncertain, particularly with the emergence of new variants, the group’s businesses have been cushioned by its utility segment, which by nature are essential services that continue to operate amid the control period. — Bernama

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