BINTULU: Bintulu Port Holdings Berhad (BPHB) has announced an increase in its operating revenue, with a rise of RM13.98 million (6.96%) from RM200.86 million in Q4 2022 to RM214.84 million in Q4 2023.
In a statement, the growth was attributed to the surge in port services revenue at Bintulu Port, which reached RM160.97 million in Q4 2023, an increase of RM12.27 million from Q4 2022.
The upsurge was primarily driven by increased vessel calls for liquefied natural gas (LNG) and Base Support activities.
Revenue from Samalaju Industrial Port operations also increased to RM40.53 million in the quarter, up from RM38.61 million in the previous year’s corresponding quarter.
However, revenue from bulking facilities saw a slight decline to RM13.34 million, compared to RM13.55 million in Q4 2022.
The Group’s profit after tax for Q4 2023 was RM46.34 million, a significant increase of 29.76% or RM10.63 million from the same period in 2022.
Earnings per share improved to 10.07 cent, up from 7.76 cent.
However, the profit after zakat and tax for the year ending December 31, 2023, fell to RM125.06 million, a decrease of 2.08% or RM2.66 million from the previous year, primarily due to a 3.24% decrease in operating revenue to RM765.58 million.
This was largely due to slow market growth in China, affecting cargo volume at the Samalaju operation, especially in the first half of 2023.
Meanwhile, non-operating income for the year surged 96.47% to RM56.05 million, driven by improved returns from investments in fixed deposits and fixed income.
Looking ahead, Bintulu Port announced a fourth interim single-tier dividend of 3.00 cent per share, payable on April 17, 2024. The Group expects LNG cargo handling and vessel calls to remain primary revenue sources in 2024 but remains cautious of potential global economic uncertainties, especially those in China, which could affect cargo volume.
