Bintulu Port Holdings’ profit rises 43.8%

BINTULU, 31 Mac -- Kerja-kerja menyiapkan fasa terakhir pelabuhan giat dilakukan di pelabuhan pada perasmian Samalaju Industri Port Sdn Bhd oleh Perdana Menteri Datuk Seri Najib Tun Razak di sini hari ini. -- fotoBERNAMA (2015) HAKCIPTA TERPELIHARA

KUALA LUMPUR: Bintulu Port Holdings Bhd recorded a 43.8% jump in net profit to RM29.93mil for the second quarter ended June 30, 2016, from a year earlier, on 4% higher revenue from operations of RM137.17mil and 140% higher “other income” of RM8.5mil.

The company, which operates East Malaysia’s largest container port and one of the world’s largest liquefied natural gas (LNG) export terminals, told Bursa Malaysia that besides the RM137.17mil revenue from operations, it also recorded revenue from construction services for concession infrastructures of RM132.09mil (mainly for developing Samalaju Industrial Port) and the corresponding cost of construction were also recognised.

There was no elaboration on the “other income” generated.

For the first half-year, its net profit grew by 24.5% to RM70.07mil while revenue rose 5.1% to RM70.07mil.

“The performance of the group for the first half year 2016 shows an encouraging growth with positive contributions from palm oil, alumina, container and ferro-alloy cargoes. These cargoes will contribute positively towards the revenue for the year.,” it said.

Bintulu Port Holdings, whose biggest shareholder is Petroliam Nasional Bhd (28.52% stake), added: “The handling of LNG vessels and cargoes will still continue to be Bintulu Port’s most important revenue contributor.”

The board proposed a second interim dividend of 6 sen per share, bringing the total dividend to 12 sen per share (previous year: 10 sen per share).

The counter gained 20 sen to close at RM6.80 with 5.000 share changing hands.