Bintulu Port reports higher operating revenue of RM196.90 mln for Q2 2024

KUCHING (Aug 23): Bintulu Port Holdings Berhad (Bintulu Port) has reported a higher operating revenue of RM20.58 million or 11.67 per cent quarter-on-quarter (QoQ) under review from RM176.32 million attained in Q2 2023 to RM196.90 million in Q2 2024.

The operating revenue from the port services increased by 12.29 per cent QoQ, from RM166.35 million in Q2 2023 compared to RM186.79 million in Q2 2024, Bintulu Port said in a statement.

The company said this was mainly contributed by the handling of cargo and vessel calls for liquified natural gas (LNG), base support facilities, and the cargoes handled at Samalaju Industrial Park.

Bintulu Port pointed out that the revenue from bulking facilities also increased by 1.35 per cent from RM9.97 million in Q2 2023 to RM10.11 million in Q2 2024.

The overall throughput handled increased from 11.07 million tonnes in Q2 2023 to 11.81 million tonnes, an increase of 6.68 per cent in Q2 2024, said the company.

“Non-LNG increased by 15.41 per cent, from 5.45 million tonnes to 6.29 million tonnes quarter on quarter,” Bintulu Port added.

With the impressive increase in revenue, the company’s profit before tax rose from RM28.56 million in Q2 2023 to RM52.59 million in Q2 2024.

Likewise, the company’s after-tax profit quarter on quarter rose from RM23.75 million to RM39.85 million resulting in a higher earnings per share achieved of 8.66 sen against 5.16 sen recorded in Q2 2023.

“Bintulu Port is also pleased to announce the declaration of a second interim single-tier dividend of four sen per share payable on Oct 8, 2024,” said the company.

On the prospects for the year, Bintulu Port said the handling of LNG cargo remains the main revenue contributor to the company, supported by positive revenue growth from base support activities, and Samalaju cargoes.

Bintulu Port added that it will begin to handle marine services for Petchem Methanol from the second half of this year.