YTL Corp Bhd released disappointing results for the 9MFY19 for its cement division. Cement revenue was down by four per cent YoY, but earnings were up 96 per cent YoY.

The Malaysian company reported lower a sales volume impacting its top line. YTL Cement's margins improved significantly given the higher selling price and lower operating expenditure.

The recent 51 per cent acquisition of Lafarge Malaysia will reflect a small loss in contributions in 4QFY19. The acquisition is expected to improve pricing power in the short term as YTL now controls 60 per cent of Malaysia cement.