YTL Corp's FY2023 earnings jumps to RM2.05bil

KUALA LUMPUR: YTL Corporation Bhd's net profit surged 42 per cent to RM2.05 billion for the year ended June 30 2023 (FY2023), up from RM1.45 billion last year.

Group revenue increased 22 per cent to RM29.51 billion for the 12-month period, compared to RM24.24 billion a year ago.  

YTL Corp executive chairman Tan Sri (Sir) Francis Yeoh Sock Ping said the group achieved outstanding results in FY 2023, owing to better performances across all its business segments.

Yeoh said the group's EBITDA (earnings before interest, tax, depreciation, and amortisation) for the 12 months ended June 30, 2023, increased 31 per cent to RM6.9 billion from RM5.2 billion last year.

For the three months ended June 30, 2023 (Q4 2023), revenue grew 48 per cent to RM9.1 billion from RM6.15 billion in the same period a year ago. 

Net profit rose 183 per cent to RM1.07 billion for the three months under review from RM379.4 million last year.

YTL declared an interim dividend of 4.0 sen per ordinary share, the book closure and payment dates for which are Nov 10, and Nov 29 respectively.

Yeoh said YTL Power International Bhd accomplished excellent results in FY2023, driven mainly by the power generation division. 

YTL Power's revenue grew 23 per cent to a record high of RM21.89 billion for the 12 months compared to RM17.8 billion for the previous 12 months ended June 30, 2022.  

Net profit increased 39 per cent to RM2.03 billion over RM1.45 billion last year.

Yeoh said the significant improvement in YTL Power's performance was driven primarily by higher retail and pool prices in its power generation business. 

"With about 97 per cent of the YTL Power Group's revenue being generated from overseas businesses, the results were also bolstered by forex gains for the 12 months under review," he said. 

Yeoh said Malayan Cement Bhd turned in better performance resulting from increased demand and better selling prices.  

Malayan Cement's revenue increased 39 per cent to RM3.76 billion compared to RM2.71 billion for the 12 months ended June 30, 2022. 

Net profit increased 94 per cent to RM159.2 million over RM82.1 million last year.

Yeoh said Malayan Cement achieved a stellar set of results for the 2023 financial year, enabling the group to once again reward shareholders with dividends. 

He said the robust performance was driven by the full consolidation of the new cement and ready-mixed concrete businesses acquired in September 2021, as well as the higher sales volume and selling price of domestic cement and ready-mixed concrete.

Yeoh said YTL Group's hotel segment also delivered significantly improved performance stemming from the recovery of the global tourism industry.

Keywords:
Related Articles