YTL Power International Berhad recorded higher revenue of RM7,809.3 million (US$1,972.0 mn) for the 9 months ended 31 March 2018 compared to RM7,191.8 million (US$1,816.1 mn) for the preceding corresponding 9 months ended 31 March 2017. Profit before tax increased 2.2% to RM658.3 million (US$166.3 mn) compared to RM644.3 million (US$162.7 mn) last year, although profit for the period decreased to RM485.4 million (US$122.6 mn) this year, compared to RM531.1 million (US$134.1 mn) for the same period last year.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, Managing Director of YTL Power, said, “YTL Power saw an 8.6% growth in revenue for the 9 months under review, arising mainly from our contracted power generation segment which saw supply commence on 1 September 2017 from Paka Power Plant under the new short-term power purchase agreement, as well as better performance in our water and sewerage segment in the United Kingdom following the opening of the retail market for non-household customers, coupled with the price increase allowed by the regulator and lower operating costs.
“Profit for the period was impacted by lower margins recorded on electricity sales and oil tank leasing activities and higher finance costs recorded in the multi-utilities business segment in Singapore and an increase in finance costs and reclassification of certain overhead costs in the Group’s investment holding segment.”