YTL profit up on cement sector in 2014 fiscal year

Byrebecca3360

Updated Mon, 01 Sep 2014 09:33:44 GMT

Malaysia: The net profit of YTL Corp, which operates in the cement, property and other sectors, increased by 2.6% to US$107m in the fourth quarter of its 2014 fiscal year, which ended on 30 June 2014. Revenue, however, fell by 9.6% to US$1.44bn.

For the full year to 30 June 2014, YTL's net profit rose by 20.8% to US$490m from US$400m. Revenue slipped over the year to US$6bn from US$6.33m in the 2013 fiscal year.

"Our cement, property development and investment and hotel divisions all registered good growth," said group managing director Tan Sri Francis Yeoh Sock Ping in a statement. Yeoh said the jump in net profit was mainly due to improvements in the group's cement business, along with its property and hospitality businesses.