YTL Power records lower earnings, profit in 2Q20

KUALA LUMPUR: YTL Power International Bhd’s net profit eased to RM70.26 mil in the second quarter ended Dec 31, 2019 (2Q20) from RM71.77 mil in the same period a year earlier.

Revenue for the quarter declined to RM2.80 bil from RM2.93 bil year-on-year, while earnings per share fell to 0.92 sen from 0.94 sen.

Moving forward, the company expects its power generation business to perform satisfactorily as it operates under a power purchase agreement, while its telecommunication business is well-positioned to grow its subscriber base with innovative, competitive and affordable products and services.

“The group remains committed to delivering high-quality, reliable and resilient services (in the water and sewerage unit) that are affordable to everyone, and is confident it will continue to deliver outperformance of its regulatory targets,” it added.

Despite the current challenges, the group said its multi utilities business will continue to focus on customer service and diversification beyond the core business into integrated multi-utilities supply. – Feb 20, 2020, Bernama

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