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Westports, Malaysia, handles record 2.29 million TEU in Q3
MALAYSIA's Westports Holdings Bhd handled a record 2.3 million TEU in the third quarter bringing to 6.7 million TEU the total throughput from January to September, an increase of nine per cent year on year.
However, the port operator's net profit during the three-month period ended September 30 declined by 7.7 per cent from a year earlier to MYR130 million (US$29.6 million), owing to higher tax expenses, reported The Star Online.
Third-quarter revenue slipped to MYR400.8 million compared with MYR405.4 million during the same period in 2014. Net profit for the first nine months of the year was flat at MYR372.3 million.
"Both transshipment business and gateway-domestic throughput had commendable improvement," chief executive officer Ruben Emir Gnanalingam said in a statement. "The group benefitted from lower cost of fuel and operational efficiency gains while handling an increase in container throughput."
During the third quarter, Westports announced that the container tariff revision had been approved by the authorities. The first phase of the revision, which entails an average increase of 15 per cent, was implemented on November 1.
However, the port operator's net profit during the three-month period ended September 30 declined by 7.7 per cent from a year earlier to MYR130 million (US$29.6 million), owing to higher tax expenses, reported The Star Online.
Third-quarter revenue slipped to MYR400.8 million compared with MYR405.4 million during the same period in 2014. Net profit for the first nine months of the year was flat at MYR372.3 million.
"Both transshipment business and gateway-domestic throughput had commendable improvement," chief executive officer Ruben Emir Gnanalingam said in a statement. "The group benefitted from lower cost of fuel and operational efficiency gains while handling an increase in container throughput."
During the third quarter, Westports announced that the container tariff revision had been approved by the authorities. The first phase of the revision, which entails an average increase of 15 per cent, was implemented on November 1.
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