Port records higher revenue in current quarter

KUCHING: Bintulu Port Holdings Berhad (BPHB) has recorded an operating revenue of RM186.41 million for the current quarter, which is RM1.96 million (1.06 percent) higher compared to RM184.45 million achieved in the corresponding quarter in 2019.

The revenue from port services at Bintulu Port recorded at RM144.22 million in 4QFY20 (fourth quarter ending Dec 31 last year) is RM3.31 million higher compared to RM140.91 million achieved in 4QFY19.

“The revenue generated from port services at Samalaju Industrial Port during the quarter under review is RM29.96 million against RM29.25 million in the corresponding year quarter,” said BPHB in a statement on its results for the fourth quarter of last year.

It reported that revenue from its bulking facilities decreased by RM2.06 million from RM14.29 million to RM12.23 million in 4QFY20.

The group’s net profit for 4QFY20 decreased to RM24.87 million from RM43.44 million in the corresponding quarter the year prior. Its earnings per share decreased to 5.41 sen compared to 9.44 sen previously.

For the 12 months to Dec 31, the group recorded operating revenue of RM707.31 million and net profit of RM93.30 million versus RM716.42 million and RM129.30 million in the 2019 period respectively.

“The expenditure during the 12 months under review of RM613.15 million is higher by RM39.37 million compared to RM573.78 million recorded a year earlier.

“This was mainly due to the provision for maintenance dredging costs and also the recognition of additional depreciation on right of use assets under MFRS 16: Leases for new charter hire of vessels at Bintulu Port Sdn Bhd.”

Bintulu Port declared a fourth interim single-tier dividend of two sen per share, which will be paid on Apr 15 this year. This is similar compared with the dividend declared in the corresponding quarter of 2019.

“Despite the challenges from the Covid-19 pandemic-related lockdowns last year, the group has been able to continue our services without any disruptions for all subsidiaries and managed to stay open for business all year long.”

In Quarter 1 of last year, the group deployed a Business Response Plan specifically to cater for the anticipated impact of the pandemic on its operation.

On the group’s prospects, the performance for this year would continue to be affected by the unprecedented impact of the ongoing Covid-19 pandemic, which is affecting all the supply chains in the logistics industry.