Shares of utilities-to-hotels conglomerate YTL Corporation Bhd (KL:YTL) and its related stocks on Friday snapped consecutive days of rally despite notching earnings growth in their third quarter (3QFY2024) financial results.

YTL Corp Bhd (KL:YTL) posted a 19.8% increase in net profit for its third financial quarter ended March 31, 2023 (3QFY2024), as all of its business segments — construction, cement and building materials, property investment and development, management services and others, hotels, and utilities — reported higher earnings.

Avaland Bhd's (KL:AVALAND) net profit for the first quarter ended March 31, 2024 (1QFY2024) soared to RM21.17 million, from RM136,000 a year earlier, on the back of advanced construction progress in the group’s ongoing projects, namely Aetas Damansara, Alira Subang Jaya, Casa Embun and Sanderling.

Shares of Sime Darby Property Bhd (KL:SIMEPROP) surged to a fresh six-year high on news of the developer’s entry into the data centre space while analysts scrambled to raise their target prices.

Axis Real Estate Investment Trust (KL:AXREIT), which mainly manages offices and warehouses, said on Thursday it is acquiring two automotive service centres worth RM125 million.

Cahya Mata Sarawak Bhd’s (CMS) (KL:CMSB) net profit fell 10.1% to RM38.25 million for the first quarter ended March 31, 2024 (1QFY2024) from RM42.56 million a year earlier.

KLCCP Stapled Group (KL:KLCC) registered a 4.1% increase in net profit for the first quarter ended March 31, 2024 (1QFY2024) to RM188.03 million from RM180.56 million a year earlier, on the back of steady performance across its business segments.

Construction outfit Fajarbaru Builder Group Bhd (KL:FAJAR) saw its net profit jumped more than 14 times to RM27.19 million for the third quarter ended March 31, 2024 (3QFY2024), from RM1.91 million a year earlier, mainly due to higher contribution from property development segment.

Amid challenges posed by rising construction material costs and potential fuel subsidy rationalisation, Sime Darby Property Bhd (KL:SIMEPROP) said it is confident of continuing to defend its profit margin via a strategic product mix.

Sime Darby Property Bhd (KL:SIMEPROP) said on Thursday it will build and lease out a hyperscale data centre at its Elmina Business Park in a deal worth RM2 billion, marking the group’s entry into the data centre segment.