For the fourth quarter, Bintulu Port saw net profit surge to RM82.861 million from RM45.034 million in the corresponding quarter, mainly from handling of general cargo and containers.
KUALA LUMPUR: Bintulu Port Holdings Bhd’s net profit for the financial year ended Dec 31, 2018 was lower at RM142.044 million from RM154.172 million chalked up a year earlier.
Group revenue was higher at RM686.141 million compared with the previous year’s RM679.820 million, it said in a filing with Bursa Malaysia today.
However, for the fourth quarter, Bintulu Port saw net profit surge to RM82.861 million from RM45.034 million in the corresponding quarter, mainly from handling of general cargo and containers.
Revenue, meanwhile, stood higher at RM198.064 million from RM186.270 million.
It added that revenue from port’s services recorded a revenue of RM155.14 million in Q4 2018 which was RM3.48 million higher compared with RM151.67 million achieved in Q4 2017 mainly contributed by handling of general cargo and container.
On prospects, Bintulu Port said in 2019, the cargo that were expected to contribute positively towards the group’s performance are liquefied natural gas, palm oil and containers and cargoes handled at Samalaju Industrial Port.
“It is expected that the LNG supplies will normalise in the second half of year of 2019,” it said. — Bernama