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Westports H1 profit up 17% on higher volumes

Port Klang's main terminal operator Westports Holdings saw almost flat second quarter net profit growth of MYR122.5m ($38.7m) from MYR119.6m in the previous corresponding period. Revenue rose 2% to MYR409.0m from MYR401.23m previously.

Vincent Wee, Hong Kong and South East Asia Correspondent

July 24, 2014

1 Min Read
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For the first half however, Westports showed a significant rise in profits to MYR231.5m from with MYR198.4m previously, while revenue rose slightly to MYR772.2m from MYR750.1m as the robust growth in the container segment fed into the results.

Westports ceo Ruben Emir Gnanalingam said in a press release that total container throughput registered exceptionally strong growth in the first half, rising to 4.02m teu, led by transshipment, which rose 14% year-on-year. Gateway business was also decent, rising by 10.5% year-on-year.During the period Westports has recorded two record-high monthly volumes in March, and yet another record-high of 718,000 teu in May.

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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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