YTL (4677) - YTL Corp 2Q net profit down 16% on lower construction revenue
KUALA LUMPUR (Feb 12): YTL Corp Bhd (fundamental: 1.2; valuation: 1.2) saw its net profit fall 16.17% to RM321.51 million for the second financial quarter ended Dec 31, 2014 (2QFY15) from RM383.54 million a year ago, mainly due to lower revenue from its construction business segment.
Revenue was also down 14% to RM4.22 billion from RM4.91 billion in 2QFY14. Earnings per share (EPS) was lower at 3.1 sen compared with 3.7 sen a year ago.
In a filing with Bursa Malaysia today, YTL Corp attributed the decrease in construction revenue in 2QFY15 to lower revenue recognition of construction contracts.
For the six months ended Dec 31, 2014 (1HFY15), YTL Corp saw its net profit drop 33.71% to RM537.64 million from RM811.1 million a year ago.
Revenue fell 13.95% to RM8.71 billion from RM10.12 billion in 1HFY14. EPS for 1HFY15 was lower at 5.19 sen from 7.82 sen a year ago.
On prospects, YTL Corp said the construction segment is expected to achieve satisfactory performance for the financial year ending June 30, 2015 as the construction contracts relate mainly to the group's property development and infrastructure works.
YTL Corp shares closed up 1.16% at RM1.74 today, bringing a market capitalisation of RM18.03 billion.
http://www.theedgemarkets.com
KUALA LUMPUR (Feb 12): YTL Corp Bhd (fundamental: 1.2; valuation: 1.2) saw its net profit fall 16.17% to RM321.51 million for the second financial quarter ended Dec 31, 2014 (2QFY15) from RM383.54 million a year ago, mainly due to lower revenue from its construction business segment.
Revenue was also down 14% to RM4.22 billion from RM4.91 billion in 2QFY14. Earnings per share (EPS) was lower at 3.1 sen compared with 3.7 sen a year ago.
In a filing with Bursa Malaysia today, YTL Corp attributed the decrease in construction revenue in 2QFY15 to lower revenue recognition of construction contracts.
For the six months ended Dec 31, 2014 (1HFY15), YTL Corp saw its net profit drop 33.71% to RM537.64 million from RM811.1 million a year ago.
Revenue fell 13.95% to RM8.71 billion from RM10.12 billion in 1HFY14. EPS for 1HFY15 was lower at 5.19 sen from 7.82 sen a year ago.
On prospects, YTL Corp said the construction segment is expected to achieve satisfactory performance for the financial year ending June 30, 2015 as the construction contracts relate mainly to the group's property development and infrastructure works.
YTL Corp shares closed up 1.16% at RM1.74 today, bringing a market capitalisation of RM18.03 billion.
http://www.theedgemarkets.com
