YTL Corp’s property revenue rises 43% in 4Q

PETALING JAYA (Aug 20): YTL Corp Bhd’s property investment and development revenue rose 43% year-on-year to RM135.45 million in the fourth quarter ended June 30, 2026 (4QFY2026), supported by higher contributions from projects in Ipoh and Selangor, a land sale and its Brabazon project in the UK.

In a Bursa Malaysia filing on Thursday (Aug 20), YTL Corp said the segment nevertheless recorded a pre-tax loss of RM88.66 million, compared with a pre-tax profit of RM201.90 million a year earlier. It attributed the reversal mainly to lower fair-value gains on investment properties and a share of losses from associate Starhill Global REIT.

For FY2026, property investment and development revenue fell 27% to RM433.50 million from RM595.55 million, while the segment recorded a pre-tax loss of RM67.35 million, compared with a pre-tax profit of RM188.82 million a year earlier.

YTL Corp attributed the lower revenue mainly to the absence of revenue from an office-building sale recorded in the preceding financial year and lower revenue from Brabazon.

Group earnings decline

At group level, YTL Corp’s revenue rose 15.3% to RM8.82 billion in 4QFY2026 from RM7.65 billion a year earlier, but net profit attributable to shareholders fell 47.1% to RM327.56 million from RM618.91 million. Pre-tax profit declined 23.1% to RM1.19 billion.

For FY2026, revenue increased 2.7% to RM31.61 billion from RM30.80 billion, while net profit attributable to shareholders declined 26.8% to RM1.44 billion from RM1.97 billion. Pre-tax profit fell 13.5% to RM4.09 billion.

The cement and building materials segment performed more strongly, with quarterly revenue rising 23% to RM1.90 billion and pre-tax profit increasing 34% to RM493.09 million.

YTL Corp attributed the improvement to stronger turnover in its ready-mixed concrete and drymix divisions, alongside cost management and operational efficiencies.

Data centres ramp up

The utilities segment’s quarterly revenue rose 12.1% to RM5.87 billion, although pre-tax profit fell 17.8% to RM761.39 million.

Within the segment, data-centre revenue surged to RM460.3 million from RM52.3 million, while pre-tax profit increased to RM251.4 million from RM12.7 million. YTL Corp attributed the improvement mainly to the progressive ramp-up and occupancy of data halls and a cumulative catch-up adjustment arising from the timing of revenue recognition.

The power generation division’s pre-tax profit fell to RM307.5 million from RM807.3 million, mainly due to lower retail, pool and vesting margins, while water and sewerage pre-tax profit increased to RM286.5 million from RM236 million.

YTL Corp declared an interim dividend of six sen per ordinary share for FY2026, compared with five sen for FY2025. The shares will go ex-dividend on Oct 1, with the entitlement date on Oct 2 and payment on Oct 23. The board did not recommend a final dividend.

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