YTL Corporation announced is financial year results recording a revenue of RM30.5 billion and profit a RM2.1 billion representing an increase of 0.7% and 100%, compared to the year ended 30 June 2023.
For the Power Generation division, tge divisions revenue decreased to RM15.2 billion from RM16.2 billion, representing a decline of 6.0%. Profit before tax increased to RM3.6 billion from RM2.4 billion, representing a rise of 49.6%. The decrease in revenue is attributed to lower pool prices, partially offset by the strengthening of the Singapore Dollar against the Malaysian Ringgit. The increase in profit before tax is due to better margins, lower interest expenses following loan repayments, and the factors mentioned above that contributed to the decrease in revenue.
For the Water & Sewerage division, revenue increased to RM5.2 billion from RM4.2 billion, representing a rise of 22.2%. The loss before tax was reduced to RM86.5 million from RM94.8 million compared to the preceding financial year ended 30 June 2023. The higher revenue was primarily driven by new contracts secured within the non-household retail market, an increase in prices as allowed by the regulator, coupled with strengthening of the Great Britain Pound against the Malaysian Ringgit. The reduction in the loss before tax was mainly due to the higher revenue recorded.
As for prospects, YTL said despite the challenges in the economy, the construction sector’s continued growth signifies its resilience and capacity to contribute positively to the broader economic landscape. Management said it is proactively taking action to ensure construction work-in-progress is on track and to replenish its order book.
The Cement and building materials industry sees demand continue to be driven by civil and non-residential sectors including infrastructure, logistics facilities, data centers and factories. Malaysia’s long-term need for housing and infrastructure due to its young population and high urbanization rate will also help sustain cement demand
