Westports Q2 net up 31% to $40m on record H1 volumes

Revenue also rose 29% to MYR522.6m from MYR405.3m last year.

For the first six half Westports' net profit rose to MYR330.9m from MYR242.3m previously while revenue rose to MYR987.3m from MYR804m in the previous corresponding period.

Westports’ handled 4.9m teu in the in the first half of this year, of which 3.6m comprised transhipment containers and 1.3m were gateway containers. This was a new record for the first half of the year.

“Our first six months volume has been very encouraging and resilient given the modest regional economic growth during the period as we achieved another milestone by handling our highest ever interim container volume of 4.9m teu," said ceo Ruben Emir Gnanalingam.

“Westports also benefited from accommodating our shipping clients’ ad-hoc handling requirements as they introduced larger vessels into their existing container shipping services,” said Ruben.