Westports' profit declines 31pc in fourth quarter to US$35.5 million
MALAYSIA's Westports Holdings net profit in the fourth quarter declined 31 per cent year to year to MYR145
MALAYSIA's Westports Holdings net profit in the fourth quarter declined 31 per cent year to year to MYR145.5 million (US$35.5 million), drawn on revenues of MYR418 million, which fell 27 per cent.
The group has proposed to declare a second interim dividend of 6.33 sen per share amounting to MYR215.9 million, payable on March 1, reports Kuala Lumpur's Sun Daily.
Westports' full-year net profit was down 18 per cent to MYR533.47 million, drawn on revenues of MYR1.61 billion, down fell 23 per cent.
Westports managing director Ruben Emir Gnanalingam said the group is expecting to achieve higher overall container throughput in 2019 with further organic growth momentum on last year's baseline volume level.
'We are also evaluating details of the proposed container terminal expansion as Westports plan to further strengthen the company and Port Klang's role as the pre-eminent port for the nation's gateway trade and also as one of the main transshipment hubs in the Southeast Asia region,' he said.
Westports handled a total container throughput of 9.5 million TEU last year, a growth of six per cent year on year.
Gateway volume increased by 18 per cent over the previous year, reflecting favourable domestic economic activities, while transshipment throughput edged higher to 6.2 million TEU.