Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 9): Bintulu Port Holdings Bhd saw its net profit for its third quarter ended Sept 30, 2015 (3QFY15) fall by 15.74% to RM29.23 million, from RM34.69 million a year ago, due to weaker revenue in its general cargo and container divisions.

Earnings per share (EPS) thus fell to 6.35 sen, from 7.54 sen.

In its quarterly report to Bursa Malaysia, the port operator also recommended a third interim dividend of six sen per share, with an ex-date of Dec 9, 2015.

Bintulu Port's total revenue for 3QFY15 was RM130.79 million, which was 1.97% lower compared to RM133.41 million last year.

For the nine-month period (9MFY15), its net profit fell 19.43% to RM85.53 million from RM106.16 million a year ago while revenue slipped 1.78% to RM396.32 million from RM403.50 million.

EPS fell to 18.59 sen, from 23.08 sen.

Moving forward, the group, which provides port services at Bintulu Port, Sarawak, noted that its performance in 2015 will continue to be affected by the softness in the liquefied natural gas market, containerised cargo and timber-based products.

However, it said revenue from dry bulk sector and palm oil is expected to contribute positively to the performance of the group.

Shares in Bintulu Port settled at RM6.83 today, after advancing two sen or 0.29%, giving it a market capitalisation of RM3.12 billion.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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