KUALA LUMPUR: YTL Corporation Bhd's net profit surged 86 per cent to RM3.96 billion for the financial year ended June 30, 2024 (FY 2024) from RM2.122 billion in the previous year.
Its revenue grew by 3.0 per cent to RM30.53 billion, up from RM29.62 billion recorded the year before.
The board declared an interim dividend of 4.5 sen per ordinary share, with the book closure and payment dates set for Nov 13 and Nov 29 respectively.
YTL Corp executive chairman Tan Sri (Sir) Francis Yeoh Sock Ping, attributed the strong financial performance to all business segments, particularly the utilities and cement divisions. He noted that the construction, property development, property investment, hotels, and management services segments also showed improved results.
The company's Ebitda (earnings before interest, tax, depreciation, and amortisation) increased by 37 per cent to RM9.5 billion for the 12 months ended June 30, 2024, up from RM6.9 billion the previous year, he said in a statement.
YTL Power International Bhd, the group's utilities arm, reported a 2.0 per cent increase in revenue to RM22.32 billion, compared to RM21.89 billion the previous year.
Its net profit soared by 73 per cent to RM3.51 billion, up from RM2.03 billion a year earlier.
Yeoh said YTL Power's exceptional results were driven primarily by higher pre-tax profit in Singapore's power generation segment, thanks to improved margins and lower interest expenses following early loan repayments.
He also highlighted the improved performance of the UK water and sewerage segment, driven by newly-secured contracts in the non-household retail market and a price increase allowed by the industry regulator.
In the telecommunications segment, he said the better performance was due to higher project revenue.
Malayan Cement Bhd's net profit rose 169 per cent to RM429 million in FY2024, up from RM159.2 million the previous year, with revenue rising 18 per cent to RM4.45 billion.
Yeoh attributed the company's growth in revenue to the stabilisation of domestic cement and ready-mixed concrete prices, along with ongoing improvements in operational efficiencies.