KUALA LUMPUR: YTL Corp Bhd returned to the black in the fourth quarter ended June 30, 2022 (4QFY22) with a net profit of RM8.68 million, compared with a net loss of RM407.48 million in 4QFY21, on the absence of impairment losses under its property business, while contribution from its utilities business strengthened.
Revenue for the latest quarter under review jumped 41.92% to RM6.07 billion from RM4.28 billion, as four out of its six business segments — construction, hotels, utilities, and cement and building materials — reported increased top lines, its Bursa Malaysia filing showed.
The group declared an interim dividend of three sen per share, to be paid on Nov 29.
For the full financial year ended June 30, 2022 (FY22), the group posted a net profit of RM530.55 million compared with a net loss of RM367.66 million for FY21, with a 40% increase in revenue to RM24.16 billion from RM17.27 billion.
“Our construction division saw better performance, recovering from pandemic restrictions at the start of the financial year, supported by the revival and acceleration of infrastructure, housing and commercial projects. Meanwhile, improved results in the property segment were due mainly to higher sales, while our hotels division continued to see better results following the gradual recovery of the tourism and hospitality sectors as the year progressed.
“EBITDA (earnings before interest, taxes, depreciation and amortisation) grew 23% to RM5 billion for the current [financial] year, compared with RM4.1 billion last [financial] year,” said YTL Corp executive chairman Tan Sri Francis Yeoh Sock Ping in a statement.
YTL Corp expects its performance to remain resilient going forward, but will closely monitor the impact and risks to its business segments.
YTL Corp shares finished half a sen or 0.88% higher at 57 sen on Thursday (Aug 25), giving the group a market capitalisation of RM6.34 billion.
Source : The Edge Markets