BINTULU, 22 November 2024 – Bintulu Port Holdings Berhad (“Bintulu Port” or the “Group”), has announced its financial result for the third quarter of the year (Q3 2024). The Group reported a higher operating revenue of RM16.24 million or 8.71% quarter-on-quarter (QoQ) under review from RM186.53 million attained in Q3 2023 to RM202.77 million in Q3 2024.
The operating revenue from the port services increased by 9.38% quarter-on-quarter, from RM174.67 million in Q3 2023 as against RM191.05 million in Q3 2024 mainly contributed by the handling of cargo and vessel calls for LNG, supply base activities and the cargoes handled at Samalaju. The revenue from the Bulking Facilities for Q3 2024 is RM11.72 million compared to RM11.86 million registered in Q3 2023.
The overall throughput handled slightly increased by 2.99% from 11.71 million tonnes in Q3 2023 to 12.06 million tonnes in Q3 2024. Non-LNG increased by 7.10%, from 5.99 million tonnes to 6.41 million tonnes quarter on quarter.
The expenditure during the quarter under review of RM188.89 million is higher by RM25.38 million compared to RM163.51 million in Q3 2023 mainly due to higher direct operating costs contributed by higher expenditure incurred on service contracts and repair and maintenance cost.
With the above, The Group's pre-tax profit dropped to RM40.59 million from RM42.68 million recorded previously in Q3 2023. Likewise, the Group’s after-tax profit quarter on quarter slipped from RM32.49 million to RM28.05 million resulting in a lower earnings per share achieved of 6.10 sen against 7.06 sen recorded in Q3 2023. However, Bintulu Port is pleased to announce the declaration of a third interim single-tier dividend of 3.00 sen per share payable on December 26th, 2024.
On the prospects for the year, the handling of LNG cargo remains the main revenue contributor to the Group supported by positive revenue growth from supply base activities and encouraging revenue contribution from bulking activities, palm oil, dry bulk cargo handling and Samalaju cargoes.