KUCHING: Bintulu Port Holdings Bhd (Bintulu Port) recorded RM43.79 million pre-tax profit for the third quarter of 2014 (3Q14) – slightly lower that its pre-tax profit recorded in the same quarter last year.
In a filing to Bursa Malaysia yesterday, Bintulu Port said its operating revenue for the current quarter was at RM133.41 million, an increase of RM0.84 million or 0.64 per cent compared to RM132.57 million recorded in the corresponding quarter.
It said revenue generated from its port services was RM122.08 million, with revenue from handling of liquefied natural gas (LNG) vessel calls, and cargo contributing an overall RM83.16 million or 62.33 per cent to its total operating revenue.
“The number of vessels call for LNG in 3Q14 is 107 calls compared to 119 calls in 3Q13,” it added.
As for its bulking services, revenue stood at RM11.33 million which translates into 8.49 per cent of the group’s total operating revenue. Revenue from construction services for concession infrastructure of RM71.64 million was recognised in 3Q14, and the corresponding cost of construction for concession services was also recognised.
“This relates to the port’s improvement project at BPSB (RM4.92 million) and the port’s development project at Samalaju (RM66.72 million),” Bintulu Port said.
Meanwhile, the group’s expenditure for 3Q14 rose by RM7.15 million to RM93.9 million from RM86.75 million in 3Q13.
“The increase in expenditure is contributed by manpower expenses, depreciation of property, plant and equipments (PPEs), and amortisation of intangible assets,” it explained.
On its prospects, Bintulu Port says it expects the group’s performance to remain satisfactory in 2014.
“In 2014, the handling of LNG vessel calls and cargoes will still be Bintulu Port’s most important revenue contributor.
“The bulking operation is also expected to contribute positively towards the revenue growth.
“Other cargoes that are expected to contribute positively towards the revenue are alumina, project cargo, container and palm oil,” it said.