KUALA LUMPUR (Aug 24): YTL Corp Bhd’s net profit more than doubled to RM480.99 million for the fourth quarter ended June 30, 2023 (4QFY2023), from 173.24 million a year ago, on higher contribution from almost all segments. Earnings per share jumped to 4.39 sen from 1.58 sen.

Revenue stood at RM9.1 billion, 47.8% higher compared with RM6.15 billion in 4QFY2022, the conglomerate’s bourse filing showed.

YTL Corp declared an interim dividend of four sen per share, payable on Nov 29. Previously, the group paid interim dividends of three sen in FY2022 and 2.5 sen in FY2021.

The robust quarterly results also helped the group post its highest full-year revenue of RM29.51 billion, up 21.73% compared with RM24.24 billion in FY2022.

Full-year net profit increased 48% to RM1.03 billion from RM695.11 million previously. This is the group's highest full-year net profit since FY2015, when it reported RM1.55 billion.

“The group achieved outstanding results in this financial year, with record-high revenue of RM29.5 billion and profit before tax of RM2.7 billion,” said executive chairman Tan Sri Francis Yeoh Sock Ping in a statement.

“Our utilities segment accomplished excellent results driven mainly by the power generation division. The cement division also turned in better performance resulting from increased demand and better selling prices.

“Meanwhile, our hotels segment delivered significantly improved performance stemming from the recovery of the global tourism industry,” Yeoh said, referring to the group’s results for FY2023.

The group's earnings before interest, tax, depreciation and amortisation (Ebitda) increased 31% to RM6.9 billion from RM5.2 billion in FY2022, he added.

YTL Corp's shares closed one sen or 0.74% higher at RM1.36 on Thursday (Aug 24), valuing the group at RM14.99 billion. The stock had hit an all-time high of RM1.38 on Monday. Year-to-date, the counter has rallied by 34%.