Bintulu Port 4Q profit jumps 84%, declares 6 sen dividend

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KUALA LUMPUR (Feb 27): Bintulu Port Holdings Bhd's net profit for the fourth quarter ended Dec 31, 2018 jumped 84% to RM82.86 million from RM45.03 million a year earlier, mainly from handling of general cargo and containers.

In a filing with the exchange today, the port operator said revenue for the quarter increased 6% to RM198.06 million from RM186.27 million previously.

Bintulu Port declared an interim dividend of 6 sen per share, to be paid on April 19.

Earnings per share jumped to 18.01 sen from 9.79 sen previously.

For the financial year ended Dec 31 (FY18), Bintulu Port's net profit dipped 7% to RM142.04 million from RM154.17 million, on the back of higher revenue of RM686.14 million compared to RM679.82 million in FY17.

On its prospects, Bintulu Port said in 2019, the cargoes that are expected to contribute positively towards the group's performance are liquefied natural gas (LNG), palm oil, container and cargoes handled at Samalaju Industrial Port.

"It is expected that the LNG supplies will normalise in the second half of Year 2019," it said.