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Bintulu Port posts higher pre-tax profit in Q1

May 31, 2012

KUALA LUMPUR: Bintulu Port Holdings Bhd has posted a higher pre-tax profit of RM59.832 million in the first quarter ended March 31, 2012 as against RM54.895 million in the same quarter 2011.

The group said its revenue rose 7.62% to RM131.249 million from RM121.958 million.

Bintulu Port said revenue generated from port services was RM122.90 million, with the income from handling of liquefied natural gas (LNG) vessel calls and cargo contributing 70.19 per cent towards the total operating revenue.

Revenue from bulking services contributed 6.36% to the total operating revenue, it said in a filing to Bursa Malaysia.

The group’s expenditure in the quarter was higher by RM4.22 million, with the major expenditure was for fuel, service contracts and maintenance costs.

Bintulu Port said the handling of LNG vessel calls and cargoes will still be the company’s most important revenue contributor.

The bulking operations are also expected to contribute positively towards revenue growth, it said.

Other cargoes that are expected to contribute positively towards revenue growth are bulk fertiliser, palm oil and project cargoes for construction at the Samalaju Industrial Area, it said.

Barring any unforeseen circumstances, the board expects the group’s performance for this year to remain satisfactory, it added.

- Bernama


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