Y&G Corporation Bhd reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2016. For the quarter, revenue was MYR 37,061,000 against MYR 28,685,000 for the same period of last year. Profit from operations was MYR 9,176,000 against MYR 8,394,000 for the same period of last year. Profit before tax was MYR 9,241,000 against MYR 8,697,000 for the same period of last year. Profit for the period attributable to equity holders of the parent was MYR 6,146,000 against MYR 6,102,000 for the same period of last year. Diluted earnings per share was 2.31 sen against 2.29 sen for the same period of last year. The higher turnover in the current financial quarter was primarily due to the better take-up rates for several on-going development projects which are approaching completion.

For the nine months, revenue was MYR 82,640,000 against MYR 157,223,000 for the same period of last year. Profit from operations was MYR 18,727,000 against MYR 36,375,000 for the same period of last year. Profit before tax was MYR 19,042,000 against MYR 37,802,000 for the same period of last year. Profit for the period attributable to equity holders of the parent was MYR 13,811,000 against MYR 27,423,000 for the same period of last year. Diluted earnings per share was 5.19 sen 10.30 sen for the same period of last year. Net cash flows used in operating activities was MYR 33,891,000 against inflow of MYR 1,406,000 for the same period of last year. Acquisition of property, plant and equipment was MYR 707,000 against MYR 964,000 for the same period of last year. The significantly lower turnover was primarily due to the relatively lesser on-going development projects during the current financial year (following the completion of several development projects at the end of previous financial year) coupled with the relatively higher take-up rate ahead of new GST implementation during the previous financial year. While, the profit after tax for the current financial year-to-date was lower as compared to the preceding year's corresponding year-to-date profit after tax primarily due to the substantially lower turnover in the current financial year-to-date and partly also due to the initial marketing and promotion expenses incurred in the current financial quarter.

The company announced that barring any unforeseen circumstances, the Directors are expecting a satisfactory and sustainable financial performance of the Group for the current financial year ending December 31, 2016. As at 30 September 2016, the Group has unbilled sales of MYR 113 million from its current on-going development projects. These projects (together with the new development projects to be launched in the near future) are expected to contribute positively to the Group's revenue and profit for the remaining quarter and the coming financial years.