Westports Pre-Tax Profit Rises To RM754.82 Million In FY16
February 10, 2017 14:08 PM
KUALA LUMPUR, Feb 10 (Bernama) -- Westports Holdings Bhd's pre-tax profit rose to RM754.82 million for the financial year ended Dec 31, 2016 (FY16) from RM650.14 million recorded in FY15.
Revenue jumped to RM2.04 billion compared with RM1.68 billion previously.
In a filing to Bursa Malaysia, the port operator said it achieved a milestone by handling a record container volume of 9.95 million twenty-foot equivalent units (TEUs) in 2016, which was 10 per cent higher than the 9.05 million TEUs recorded in 2015.
Westports said its operational revenue improved by 14 per cent to RM1.8 billion as both container and conventional operations contributed to the group's improved financial performance.
During the year under review, the company accounted for 76 per cent of the total containers handled at Port Klang.
For the fourth quarter of FY16, the company recorded a higher pre-tax profit of RM174.18 million from RM166.16 million in the same quarter a year ago, on the back of a stronger revenue of RM573.26 million against RM477.01 million before.
Moving forward, Chief Executive Officer, Ruben Emir Gnanalingam, said the impending realignment in the container shipping industry this year would result in a significantly larger alliances.
"We trust that our added terminal handling capacity would be able to meet their requirements when their vessels call at Westports," he added.