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Westports Q3 profits up 19%

Westports Q3 profits up 19%
Newly-listed Westports Holdings posted a respectable 18.8% rise in third quarter earnings to MYR105.73m ($33m) from MYR88.97m previously.

The good results were due to better revenue which rose by nearly a fifth to MYR459.9m largely due to a 13% rise in container throughput to 1.9mteus, Westports said in a stock market announcement.

Year-to-date, profits rose 22% to MYR304.13m from MYR249.24m previously, while revenue improved 19.2% to MYR1.209bn from MYR1.015bn.

“The growth in revenue and PBT for the nine-month period ended Sept 30 was primarily driven by higher container throughput. Barring any unforeseen circumstances, we anticipate container throughput to remain strong in the last quarter of 2013,” Westports said.