WESTPORTS Holdings Bhd’s net profit for the first quarter ended March 31, 2020 soared to RM152.8 mil from RM139.9 mil in the same quarter last year.
Revenue rose by 10% to RM473.5 mil from RM415.2 mil previously, mainly attributed to the implementation of a container tariff hike from March 1, 2019, it said in a filing with Bursa Malaysia today.
On prospects, Westports said its container throughput is expected to decline in 2020.
“But there is less visibility on the potential rate of contraction due to ongoing adverse effects locally and abroad from the Covid-19 outbreak,” it said. — May 6, 2020, Bernama
