YTL full-year earnings up 23.6%

KUALA LUMPUR: YTL Corp Bhd’s net profit for FY11 ended June 30 rose 23.6% from a year ago to RM1.05 billion, while revenue expanded 12.5% to RM18.5 billion.

The full-year performance was lifted by strong 4Q results, with net profit tripled from a year ago to RM304 million on currency translation gains.

Group managing director Tan Sri Francis Yeoh Sock Ping said the better financial performance was driven primarily by the power generation, water and cement operations and overseas property development projects.

YTL’s key utilities comprise PowerSeraya, one of the three largest companies in Singapore, Wessex Water in the UK and Pasir Gudang power stations in Malaysia.

The conglomerate declared a first interim single tier dividend of two sen or 20% per ordinary share of 10 sen each for FY11.

The book closure and payment dates for the dividend are Nov 9 and Nov 24 respectively.