KUALA LUMPUR: YTL Corp Bhd made a pretax profit of RM110mil in the last quarter, aided by the turnaround of its cement and building materials division, but a huge deferred tax expenses in the UK pulled the conglomerate deep into the red.

       Net loss for the three-month ended June 30 swelled to RM408mil compared with a loss of RM251mil a year ago.

       Revenue during the quarter under review was RM4.36bil, YTL Corp said in a filing today.

       For the full year (FY21), YTL Corp made a loss of RM369mil on turnover of RM19.2bil.

       YTL Corp is involved in construction, power generation, property development, telecommunication and IT related business, as well as water and sewerage operations. ？The bulk of its business are located in the UK.

       YTL Corp said the UK Corporation Tax rate was due to increase from 19% to 25% with effect from April 1, 2023, resulting in a higher effective tax rate for the Group as compared to the Malaysian statutory income tax rate.

       "Consequently, the deferred tax balances as at June 30, 2021 30 June were re-measured at that date which resulted in a debit to the income statement of RM540.5mil," it said.

       YTL Corp has declared an interim dividend of 2.5 sen a share.