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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.

Vincent Wee, Hong Kong and South East Asia Correspondent

November 12, 2013

1 Min Read
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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.

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About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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