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Malaysia's Westports Q2 profit flat at $32m

Malaysia's Westports Q2 profit flat at $32m
Malaysian port operator Westports Holdings saw second quarter net profit barely changed at MYR122.1m ($31.8m) from MYR122.5m a year ago, according to a stock market release.

Even though revenue fell slightly from MYR409.0m to MYR405.3m operating profit rose 7.3% to MYR177.6m due to a reduction in fuel cost, Westports said.

Westports’ container throughput increased by 3% from 2.09m teu to 2.16m teu and it maintained its outlook for the year of throughput growth of between 5% to 10% in 2015 driven mainly by both transhipment business as well as the import and export segment.

For the first half, earnings rose 4.6% to MYR242.3m from MYR231.5m in the previous corresponding period while revenue rose from MYR772.2m to MYR804.0m as the livelier first quarter results still filtered into the mix.