Westports’ Q4 earnings jump more than 30%

Given the external economic conditions and supply chain challenges, Westports group managing director Datuk Ruben Emir Gnanalingam Abdullah said the company achieved a good level of profitability.

KUALA LUMPUR: Westports Holdings Bhd’s net profit for its fourth quarter ended Dec 31, 2021 jumped more than 30% to RM222.88mil from RM163.49mil in the previous corresponding period, due to higher container revenue and progressive insurance reimbursements for a vessel incident in 2019.

In a filing with Bursa Malaysia yesterday, Westports said revenue in the fourth quarter stood at RM503.90mil compared with RM541.54mil a year earlier.