YTL Corp FY14 net profit up 20.8%

PETALING JAYA: YTL Corp Bhd's net profit for the financial year ended June 30, 2014 (FY14) rose 20.8% to RM1.54 billion from RM1.27 billion a year ago due to its cement business, which saw better performance in the concrete and quarry segments.
"The jump in net profit was contributed mainly by our cement business, which saw better performance in the concrete and quarry segments, as well as the net fair value gain on investment properties recorded by our real estate investment trusts (REITs), YTL Hospitality REIT in Malaysia and Starhill Global REIT in Singapore," its group managing director Tan Sri Francis Yeoh Sock Ping said in a statement yesterday.
"The group recorded a 40.4% increase in profit for the period and a 20.8% increase in net profit attributable to shareholders on the back of RM19.2 billion in total revenue for the 12 months ended June 30, 2014.
"Our cement, property development and investment and hotel divisions all registered good growth, whilst in our utilities division, the power generation, water and sewerage and mobile broadband segments all turned in strong performances, offsetting lower sales in our merchant multi-utilities division," he said.
Revenue for FY14 fell to RM19.21 billion from RM19.97 billion a year ago.
The group declared an interim dividend of 9.5 sen or 95% per ordinary share of 10 sen for FY14. The book closure and payment dates for the dividend are Oct 31, 2014 and Nov 14, 2014 respectively.
"As I have indicated that long term shareholders would be rewarded at the appropriate time, YTL Corp, YTL Power and YTL e-Solutions declared increased dividends to reward them for their confidence and continued support of the group.
"YTL Corp declared an interim dividend of 9.5 sen per share which, together with the two interim dividends declared earlier this financial year, represents a dividend yield of about 7.7% (12 sen per share)," said Yeoh.