KUALA LUMPUR: Bintulu Port Holdings Bhd’s net profit narrowed to RM18.54 million in the third quarter ended Sept 30, 2018, compared with RM34.75 million a year earlier. Revenue declined 9.1 per cent to RM 161.97 million for the quarter under review from RM178.19 million previously, the port operator said in a filing with Bursa Malaysia.
“The revenue generated for handling of liquefied natural gas (LNG) was lower by RM14.18 million and the revenue generated from the operation at Samalaju Industrial Port during the quarter under review was RM23 million against RM22.26 million in corresponding year quarter,” the company said.
LNG is Bintulu Port’s main cargo and revenue contributor. The group said its performance for 2018 was still impacted by the disruption in LNG supplies and thus the reduction in the number of vessels calling at the port.
“The container sector is expected to show positive growth during the year under review. The cargoes handled at Samalaju are also expected to contribute positively towards revenue growth in 2018. “Although positive growth is expected from the handling of container and Samalaju cargoes, these are not sufficient to cushion the unforeseen shortfall in the LNG cargo,” it added. –Bernama
