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BUSINESS

Bintulu Port's Q1 net profit rises to RM41.06 mln

27/05/2022 02:59 PM

KUALA LUMPUR, May 27 (Bernama) -- Bintulu Port Holdings Bhd’s net profit went up to RM41.06 million in the first quarter ended March 31, 2022 (Q1 FY2022) from RM24.70 million a year ago amid improved performance of port and bulking services business.

Revenue increased to RM198.11 million from RM184.80 million, it said in a filing with Bursa Malaysia today.

It said the revenue recorded from the services at Bintulu Port expanded to RM146.41 million as compared to RM142.46 million achieved in Q1 FY2021.

Meanwhile, the revenue generated from the operation at Samalaju Industrial Port rose to RM41.90 million from RM32.64 million previously.

The revenue from bulking facilities increased to RM9.79 million as against RM9.70 million in Q1 FY2021.

This year, the group expects to see positive momentum in cargo throughput from liquefied natural gas (LNG), palm oil, container and dry bulk sectors due to the relaxation in the standard operating procedures relating to COVID-19 in most countries.

The expectation is also based on the assumption that the global economy continues to gradually recover from the effects of the pandemic.

“Despite this, Bintulu Port will continue to be vigilant with the current situation arising from the Russia-Ukraine conflict,” it added.

-- BERNAMA

 


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