Westports registers 11% jump in 1Q earnings

The group reported a net profit of RM204.5mil in the first quarter ended March 31.

PETALING JAYA: Malaysia’s largest listed port operator, Westports Holdings Bhd, began its financial year 2024 (FY24) with a 11% jump in first-quarter net profit, but cautioned investors of a “low single-digit” container volume growth this year.

In 2023, Westports defied expectations and achieved a record container volume of 10.88 million twenty-foot equivalent units (TEUs), which grew 8% year-on-year (y-o-y).