KUALA LUMPUR: Westports Holdings Bhd posted lower earnings of RM504.86mil in the financial year ended Dec 31, 2015 due to higher tax expenses despite higher pre-tax profit and revenue.
The port operator announced on Wednesday its earnings were lower by 1.4% from RM512.20mil in FY14. Its revenue increased 7.6% to RM1.68bil from RM1.56bil a year ago. It proposed dividend of 5.78 sen a share.
Westports’ profit before tax increased by 12% to RM650.14m as operational revenue grew by 5% to RM1.58bil.
Westports' FY15 net profit dips 1.43%, pays 5.87 sen
KUALA LUMPUR (Feb 3): Westports Holdings Bhd saw its net profit for the 12 months ended Dec 31, 2015 (FY15) dip 1.43% to RM504.86 million or 14.81 sen per share from RM512.2 million or 15.02 sen per share a year ago.
Its FY15 revenue rose 7.66% to RM1.68 billion compared with RM1.56 billion in FY14.
In a filing with Bursa Malaysia today, Westports alluded to the 12% increase in profit before tax of RM650.1 million for FY15 compared to RM578.8 million in FY14 due to reduction of fuel cost and lower administrative expenses.
The board approved a second interim dividend of 5.78 sen per share for FY15 amounting to RM197.09 million, to be paid on March 2. The entitlement date is on Feb 19.
Westports' operational revenue improved by 5% to RM1.58 billion with improved contributions from both the container and conventional operations, it said in a statement.
"The conventional segment achieved operational revenue improvement of 5% to RM144 million while throughput for 2015 was 10.23 million tonnes. It handled cement and break-bulk items, such as steel billets and coils, dry bulk and project cargoes," it said.
Westports added that these throughput items reflect the domestic economic activities and input requirements.
"Westports' container operations accomplished another historical milestone by handling 2.34 million TEUs (twenty-foot equivalent units) in the fourth quarter of 2015, which was the highest ever quarterly volume.
"And for 2015, Westports' total container volume reached an all-time record of 9.05 million TEUs, exceeding last years' throughput of 8.37 million TEUs, which was then also a record volume.
"For 2015, transhipment containers grew by 11% to 6.56 million TEUs while gateway containers increased to 2.49 million TEUs," it said.
In its final quarter ended Dec 31, 2015 (4QFY15), net profit dropped 5.2% to RM132.54 million or 3.89 sen per share from RM139.8 million or 4.1 sen per share a year ago.
Its 4QFY15 revenue was up 24% at RM477 million compared to RM384.48 million in 4QFY14.
It saw a higher profit before tax at RM166.16 million compared to RM142.16 million in 4QFY14 due to reduction of fuel cost and lower administrative expenses.
Higher tax and not due to lower revenue or lower PBT. Yet to see the benefits from tariff increase. Guess need to wait another 2 Quarters to realize that benefits.
YES,agreed that when the company announced good financial results,its stock price should go up.But unfortunately when the QR was released ALL the Technical Price Charts for Westport are bearish.Look like the bearish trend will continue for sometimes:
1.The MACD line is below the Signal Line; 2.The RSI is below the neutral line- 50.00.The boundary between bearishness and bullishness.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
AdCool
3,860 posts
Posted by AdCool > 2015-08-07 10:52 | Report Abuse
Flushing out all retail investors. Hold and don't sell.