Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 26): Bintulu Port Holdings Bhd’s net profit in the second quarter of its fiscal year ending Dec 31, 2016 (2QFY16) soared to RM29.94 million, up 43.8% from the previous year’s RM20.82 million.

In the quarter under review, the port operator recognised revenue of RM132.09 million from construction of its Samalaju Industrial Port, against RM60.38 million in 2QFY15, its bourse filing today showed. This pushed up its bottom line.

Quarterly revenue, which is made up from revenue from operations, was up by 4% year-on-year to RM137.17 million, from RM131.89 million.

“The increase in revenue is mainly from liquefied natural gas (LNG), alumina, ferroalloy cargoes and container,” Bintulu Port explained.

The company declared a second single-tier interim dividend of six sen a share, which will be traded ex on Sept 21, and payable on Oct 14.

Bintulu Port made a net profit of RM70.07 million in the cumulative period of FY16 (1HFY16), representing a 24.46% increase from the previous corresponding period’s RM56.3 million. Revenue rose by 39.96% to RM76.08 million.

“The performance of the group for 1HFY16 shows an encouraging growth with positive contributions from palm oil, alumina, container, and ferroalloy cargoes,” said Bintulu Port.

“These cargoes will contribute positively towards the revenue for the year. The handling of LNG vessels and cargoes will still continue to be Bintulu Port’s most important revenue contributor.”

Shares of Bintulu Port were not traded today. At its last traded price of RM6.60, Bintulu Port was valued at RM3.04 billion.

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