PETALING JAYA: Diversified group YTL Corp Bhd said its pre-tax profit increased 215% to RM325.4mil for the quarter ended Sept 30 compared to RM103.4mil for the preceding quarter ended June 30.

       Revenue grew 18% to RM5.1bil for the current quarter compared to RM4.28bil recorded last quarter.

       Executive chairman Tan Sri Francis Yeoh Sock Ping said the group made an “excellent start” to the 2022 financial year, with revenue increasing 18% to RM5.1bil for the first quarter, contributed by better performance across almost all divisions.

       In a statement, Yeoh said the improved operational performance saw a 215% surge in pre-tax profit to RM325mil for the quarter under review.

       “Meanwhile, in comparison with the preceding year’s corresponding quarter ended Sept 30 2020, revenue grew 21%, with pre-tax profit increasing by 138%.

       “The group’s Ebitda (earnings before interest, tax, depreciation and amortisation) remained robust, growing by a healthy 22% to RM1.2bil for the quarter under review, compared to RM976.1mil for the preceding corresponding quarter,” he said.

       YTL Cement

       In the same statement, YTL Corp said YTL Power’s revenue increased 16% compared to the previous quarter.

       Yeoh said YTL Power recorded a significant improvement in performance for the quarter under review, contributed by the main operating segments.

       “In October 2021, YTL PowerSeraya Pte Ltd, which undertakes the group’s merchant multi-utilities business in Singapore, was appointed as the electricity importer for a two-year trial to import 100MW of electricity from Malaysia via existing interconnectors.

       “As the appointed electricity importer, YTL PowerSeraya will work with Singapore’s Energy Market Authority to refine all technical settings and regulatory arrangements under Singapore’s Electricity Import Framework during this two-year trial.”

       On Malayan Cement Bhd, he said the pre-tax loss of RM32.3mil was due mainly to fixed costs incurred and low revenue recorded as the country remained in lockdown for the first two months of the quarter under review.

       Nevertheless, revenue increased marginally for the quarter under review as it completed the acquisition of 10 companies and their respective subsidiaries from YTL Cement Bhd towards the end of the quarter, on Sept 21.