Bintulu Port In News

Bintulu Port 1Q net profit up 26% on year, pays six sen dividend

23 May 2017

KUALA LUMPUR (May 23): Bintulu Port Holdings Bhd's first quarter net profit rose 26% to RM50.6 million from RM40.14 million a year earlier as revenue increased on liquefied natural gas (LNG) and metal-based commodity cargoes.

Bintulu Port told Bursa Malaysia today that revenue climbed to RM161.05 million in the first quarter ended March 31, 2017 from RM141.9 million.

"The increase in revenue is mainly from LNG, bulk fertiliser, alumina, container and ferro-alloy cargoes.

"At Bintulu Port, the handling of LNG vessel calls and cargoes will still remain as the main revenue contributor. Other cargoes that are expected to contribute positively towards the revenue growth include palm oil, bulk fertiliser, petroleum products and woodchips," Bintulu Port said.

The company declared a dividend of six sen a share for the quarter in review. Bintulu Port said the ex- and payment dates fall on July 12 and Aug 11 this year respectively.

Bintulu Port shares were last traded at RM6.31 yesterday, with a market capitalisation of RM2.9 billion.

Source: The Edge Markets