YTL Corp (4677), Malaysia’s biggest builder, said fiscal first-quarter net income rose 12 per cent after the company’s cement division cut production costs and made more money overseas.
Profit in the three months ended September 30 climbed to RM252.4 million (US$69 million), or 16.88 sen a share, from RM224.6 million, or 14.93 sen, a year earlier, YTL said in a statement to the Malaysian stock exchange today.
Sales advanced 9.9 per cent to RM1.74 billion.
“The group’s foreign operations continue to take the lead in growing our revenues and profits,” managing director Tan Sri Francis Yeoh said in a separate statement. - Bloomberg
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