MARKET DEVELOPMENT
Bintulu Port Rakes In Lower Profits For Q3
Bintulu Port Rakes In Lower Profits For Q3
28/11/2014 (Bernama) - Bintulu Port Holdings Bhd (BPHB) posted a lower pre-tax profit of RM43.79 million in the third quarter ended Sept 30, 2014, against RM50.31 million recorded in the same period last year.
Revenue rose to RM133.41 million, in the period under review, from RM132.57 million registered in 2013, the company said in a filing to Bursa Malaysia.
"Revenue generated from port services totalled RM122.08 million, with revenue from handling of liquefied natural gas vessel calls and cargo contributing 62.33 per cent towards total operating revenue while bulking services contributed 8.49 per cent of revenue," it said.
BPHB said in Q3, the company also recognised revenue from construction services for concession infrastructure of RM71.64 million and the corresponding cost of construction for concession services.
"This relates to the port's improvement project at BPSB (RM4.92 million) and the port's development project at Samalaju (RM66.72 million)," it said.
BPHB said handling of LNG vessel calls and cargo would still be the most important revenue contributor this year.
"The bulking operation is expected to contribute positively towards revenue growth while other cargoes that are expected to contribute positively towards the revenue are alumina, project cargo, container and palm oil," it added.
Revenue rose to RM133.41 million, in the period under review, from RM132.57 million registered in 2013, the company said in a filing to Bursa Malaysia.
"Revenue generated from port services totalled RM122.08 million, with revenue from handling of liquefied natural gas vessel calls and cargo contributing 62.33 per cent towards total operating revenue while bulking services contributed 8.49 per cent of revenue," it said.
BPHB said in Q3, the company also recognised revenue from construction services for concession infrastructure of RM71.64 million and the corresponding cost of construction for concession services.
"This relates to the port's improvement project at BPSB (RM4.92 million) and the port's development project at Samalaju (RM66.72 million)," it said.
BPHB said handling of LNG vessel calls and cargo would still be the most important revenue contributor this year.
"The bulking operation is expected to contribute positively towards revenue growth while other cargoes that are expected to contribute positively towards the revenue are alumina, project cargo, container and palm oil," it added.