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WORLD 2022
Part 72: Australia | YTL Power International Bhd
YTL Power International records RM1.26 bil net profit in FY2022
Bernama August 25, 2022 20:26 pm +08

KUALA LUMPUR (Aug 25): YTL Power International Bhd recorded an impressive net profit of RM1.26 billion for the financial year ended June 30, 2022 (FY2022) against a net loss of RM146.52 million a year earlier, principally attributable to the gain on disposal of investment in Australia’s ElectraNet Pty Ltd.

In a filing with Bursa Malaysia on Thursday, YTL Power said its revenue rose 65% to RM17.79 billion for the current financial year compared to RM10.78 billion in FY2021.

“The stronger revenue this financial year was driven primarily by its merchant multi-utilities segment, water and sewerage business and telecommunications segment, with the gain on disposal of our investment in ElectraNet,” it said.

For the fourth quarter ended June 30, 2022 (Q4 FY2022), YTL Power International recorded a net profit of RM193.17 million against a net loss of RM490.15 million in the same period a year ago.

Revenue, meanwhile, was 49.4% higher at RM4.53 billion.

YTL Power has declared a second interim dividend of 2.5 sen per share for FY2022, to be paid on Nov 29.

It said that its multi-utilities business (merchant) segment will continue to focus on customer service and diversification beyond the core business into integrated multi-utilities supply as power generation is an essential service and electricity demand is expected to remain stable.

“The group expects the performance of its business segments to remain resilient due to the essential nature of its operations and will continue to closely monitor the related risks and impact on all business segments,” it added.

https://www.theedgemarkets.com/artic...-profit-fy2022