KUALA LUMPUR (Aug 21): Bintulu Port Holdings Bhd (KL:BIPORT) said on Thursday its second-quarter net profit fell 13% from a year earlier, dragged by higher operating costs and softer revenue.
Net profit for the three months ended June 30, 2025 (2QFY2025) was RM34.74 million, Bintulu Port said in an exchange filing. Year-on-year, operating expenses rose due to staff and administrative costs while revenue slipped 2.2% to RM194.82 million on lower liquefied natural gas (LNG) cargoes.
Looking ahead, Bintulu Port expects LNG vessel calls and cargo volumes to recover in the second half of the year following scheduled major maintenance at the Malaysia LNG complex in the first six months of the year.
There is also “positive growth from the vessel calling for methanol cargo and the Samalaju project cargoes”, the company added.
For the first half of 2025, net profit totalled RM63.12 million, down 25.4% from the same period last year, while revenue slipped 2.2% year-on-year to RM396.53 million.
Reflecting the weaker earnings, the port operator declared a dividend of three sen per share, down from four sen per share a year earlier, bringing year-to-date payout to six sen per share, compared with seven sen per share in the same period last year.
Bintulu Port shares were unchanged at RM5.38, valuing the group at RM2.47 billion market capitalisation ahead of the results announcement.
– The Edge