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YTL Power Registers Full-Year Revenue of RM10.2 Billion (US$2.6 Billion)
Kuala Lumpur, 25 August 2016
YTL Power International Berhad registered revenue of RM10,240.5 million (US$2,553.7 mn) for the 12 months ended 30 June 2016 compared to RM11,858.1 million (US$2,957.1 mn) for the preceding corresponding 12 months ended 30 June 2015. Profit for the period increased 26.0% to RM1,159.8 million (US$289.2 mn), compared to RM920.4 million (US$229.5 mn) last year, whilst net profit attributable to shareholders increased to RM1,044.7 million (US$260.5 mn) this year over RM918.8 million (US$229.1 mn) last year.
Revenue from the merchant multi-utilities segment was impacted by excess generation capacity and lower vesting volumes in the Singapore electricity market, offsetting better performance in the water and sewerage segment which resulted from the weakening of the Malaysian Ringgit against the British Pound. The mobile broadband division saw an increase in revenue resulting from the continuous growth in the subscriber base.
The higher profit was principally attributable to the better performance of the water and sewerage segment and a higher share of results from Jawa Power in Indonesia, which arose due to an increase in deferred tax credits on the revaluation of its power plant.
In the contracted power generation division, the current power purchase agreement of YTL Power Generation Sdn Bhd (YTLPG) expired in September 2015. YTLPG has been awarded the project for supply of power from its existing facility in Paka under the short term capacity bid called by the Malaysian Energy Commission, and negotiations are currently ongoing.
The Board of Directors of YTL Power declared an interim dividend of 10 sen or 20% per ordinary share of 50 sen for the financial year ended 30 June 2016, the book closure and payment dates for which are 31 October 2016 and 15 November 2016, respectively.