KUALA LUMPUR, Nov 4 — Westports Holdings Bhd’s net profit for the third quarter (Q3) ended September 30 rose to RM271.1 million from RM233.07 million in the same period a year ago.
Revenue for the quarter under review jumped to RM751.99 million from RM572.57 million previously.
The port operator attributed the higher net profit to higher container revenue.
Meanwhile, on the year’s prospects, the company maintains this year’s volume will be a single-digit positive growth rate as the global economy continues to exhibit positive growth, albeit with a reduction in resilience and momentum amid ongoing trade tariff changes, new vessel origination/owner fees levied in the United States, trade sanctions and possibly diverging interest rate directions between various major economies.
The front-loading in the early part of the year has provided momentum to the current year’s overall container volume growth, but sustaining this pace towards the end of the year could be more uncertain.
Nevertheless, Asia’s economic dynamism, regional trade diversification, and the container alliance’s adjusted model have provided a broad-based demand for the regional container volume requirements.
