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MBC's growth story

Kuala Lumpur: Malaysian Bulk Carriers has declared net profits of RM73.7m in the second quarter of this year - down from RM178.7m in the equivalent period last year but that included RM120m of extraordinary gains. Revenues were up 14.5% at RM110.35m. The figures bring half-year net profits to RM143.9m on revenues up 8% at RM215.7m due to chartered-in activities and the delivery of five post-panamax bulkers during the course of 2005. The company also took delivery of the first of its MR products carriers during the second quarter of this year. Stripping out last year's extraordinary gains, the RM137.8m profit attributable to shareholders from the first half represents  a 12% gain on last year, says MBC. Cash in the balance sheet is a healthy RM638m. (23/08/06)

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