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apple developer account(buyappleacc.com):YTL posts improved earnings in FY21

admin2021-09-1017

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,YTL Franceis Yeoh

PETALING JAYA: YTL Corp Bhd reported a 52% year-on-year (y-o-y) jump in pre-tax profit for the financial year ended June 30, 2021 (FY21), underpinned by the solid performance from its key operating subsidiaries locally and globally.

The conglomerate told Bursa Malaysia yesterday that its pre-tax profit for FY21 came in at RM638.5mil compared with RM419.3mil a year earlier.

Meanwhile, revenue was recorded at RM17.36bil in FY21. In comparison, the topline was RM19.18bil in the preceding financial year.

According to YTL Corp executive chairman Tan Sri Francis Yeoh Sock Ping, the group continued to see good results, with its utilities division being bolstered by the ongoing turnaround of the merchant multi-utilities business in Singapore.According to YTL Corp executive chairman Tan Sri Francis Yeoh Sock Ping, the group continued to see good results, with its utilities division being bolstered by the ongoing turnaround of the merchant multi-utilities business in Singapore.

“Our cement division also turned in a strong performance on the back of disposal of cement operations in China, coupled with the increase in selling prices and volumes, and lower finance costs.

“The group’s earnings before interest, tax, depreciation and amortisation remained robust at RM4.08bil for the financial year, approximating last year’s results, underscoring the fundamental financial strength of our operating units despite challenges faced from the ongoing Covid-19 pandemic,” he said in a statement.

YTL Corp declared an interim single-tier dividend of 2.5 sen per share for FY21. The dividend represents a yield of about 3.8% based on the prevailing share price of 65 sen per share.

Meanwhile, YTL Power International Bhd’s pre-tax profit for FY21 also surged by almost 50% to RM636.5mil as compared to RM425.2mil in the previous financial year.YTL Power

Revenue improved slightly year-on-year to RM10.78bil from RM10.64bil.

Yeoh said the significant improvement in YTL Power’s pre-tax profit for FY21 resulted primarily from the successful return to profitability of the group’s merchant multi-utilities business in Singapore under YTL PowerSeraya.

“Meanwhile, Wessex Water in the United Kingdom has seen good growth in its unregulated business, while the financial results of our telecommunications business in Malaysia improved on the back of subscriber growth arising from the launch of affordable data plans, bolstered by effective partnerships and collaborations.

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