Business

Westports’ profit improves on higher throughput

The company anticipates a realignment in the container shipping business next year.

Syndicated News
Written by Syndicated News

KUALA LUMPUR — April 28, 2016: The pre-tax profit of Westports Holdings for the first quarter ended last March 31 improved to RM210.99 million from RM159.6 million on higher throughput figures.

The company handled 2.4 million TEUs in the first quarter. Tran-shipment containers increased to 1.8 million TEUs while the group handled 600,000 TEUs of gateway containers.

Conventional throughput in the first quarter was 2.6 million tonnes. The items handled included wheat, soy, sugar, steel billets and project cargoes.

In an announcement to Bursa Malaysia today, Westports said revenue rose to RM464.71 in the first quarter from RM398.72 million previously while after-tax profit increased from RM120.19 million to RM171.08 million.

The company said there is a possibility of some realignment in the container shipping industry next year. “As a terminal operator, Westports’ state-of-the art facilities currently accommodate the largest 19,000 TEUs container vessels.”

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