YTL Corporation Bhd announced today that its revenue exceeded the RM16 billion mark for the first time in its financial year ended June 30, 2010.
The integrated infrastructure conglomerate recorded an 84.5 per cent increase in revenue at RM16.41 billion from RM8.89 billion the previous year.
Pre-tax profit rose to RM2.3 billion from RM1.64 billion previously, said managing director Tan Sri Dr Francis Yeoh Sock Ping.
"The group achieved an excellent set of results for the 2010 financial year, with the significant growth arising primarily as a result of the maiden consolidation of a full-year's results of PowerSeraya in Singapore," he said.
YTL Corporation had acquired PowerSeraya in March 2009.
During the fourth quarter, YTL Corporation completed the first stage of a rationalisation of its retail and hospitality assets via Starhill REIT, which involved the disposal by the Trust of Starhill Gallery and its parcels in Lot 10 Shopping Centre to Starhill Global REIT in Singapore.
"Starhill REIT is now embarking on a rebranding exercise to transform the trust into a pure-play hospitality REIT, focusing on a single class of hotel and hospitality related assets," Yeoh said.
Other development during the quarter included the completion of Niseko Village acquisition, a prime winter and summer destination in Hokkaido, Japan, he said.
"Our vision for Niseko Village is to realise the resort's untapped potential by creating a unique, sophisticated village atmosphere offering private houses and ski-in ski-out estates, featuring all the hallmarks of the YTL brand that we have successfully employed at our other luxury resorts," he added.
YTL Corporation recommended for shareholders' approval a first and final dividend of 10 sen per ordinary share of 50 sen each or 20 per cent gross less Malaysian tax for the financial year. -- Bernama
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