YTL Corp Bhd reports on profitable March quarter
Published by Katherine Guenioui,
Editor
World Cement,
YTL Corp Bhd has reported a 34.5% increase in net profit for the quarter ending 31 March (3Q14). Profits rose from RM289.8 million in 3Q13 to RM389.8 million, though revenue fell 4% to RM4.54 billion due to lower sales in the multi utilities business.
In a statement, YTL’s Managing Director said, “Our cement, property development and investment and hotel divisions all registered stronger revenues, offsetting decreases in our construction and utilities divisions”, noting the concrete and quarry businesses have performed especially well in the nine month period under review.
In February, Sinoma announced the signing of an EPC contract with YTL cement, related to the upgrade of the coal system at the YTL Perak Hanjoong cement plant.
Last week, Malaysia’s Cahya Mata Sarawak Berhad reported a 21% increase in profit before tax, attributed to solid earnings from the cement, construction, road maintnenace and property development operations, though maintenance costs on the company’s clinker plant resulted in a 3% decrease in profit before tax for the cement division.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/21052014/ytl_reports_strong_march_quarter_cement_228/
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