KUALA LUMPUR: Westports Holdings Bhd posted a net profit of RM199.05mil in the third quarter ended Sept 30, due to higher expenses during the period, a slight decline of 2% from the RM203.85mil a year ago.

       In a filing with Bursa Malaysia yesterday, it said revenue was at RM504.89mil compared with RM528.36mil. Earnings per share were 5.84 sen compared with 5.98 sen.

       For the nine months ended Sept 30, its net profit rose to RM585.34mil after making a tax provision of RM189mil or an effective tax rate of 24.4%. In the previous corresponding period, the net profit was RM490.99mil.

       Its revenue increased to RM1.52bil from RM1.43bil as the container segment contributed most to the revenue as throughput volume increased by 3% to 7.9 million twenty-foot equivalent units.

       Westports’ nine-month results also included insurance recoveries and the absence of a general provision in the period under review – the one-off items amounted to RM52.3mil.

       Wesports group managing director Datuk Ruben Emir Gnanalingam Abdullah said: “The Company’s Sustainability Report 2020 has won the Hallbars Awards 2021 in the Best in the World, Ports Category.

       “Based in Sweden, the Hallbars Sustainability Research Institute has published its findings after selecting the winning reports from the entire world in any language. We are also honoured that Westports Holdings’ Sustainability Report 2020 is the only selected report representing Malaysia among the other winning publications from 51 countries.

       The Hallbars Sustainability Report Awards 2021 also quoted Tan Sri G. Gnanalingam, executive chairman, as saying “investors realise that sustainability and environmental, social, and governance issues are some of the most critical parameters in investments and business decisions in the new normal world.”

       On corporate developments, Ruben said: “The logistics unit of China’s biggest container shipping company will build a new 330,000 sq ft warehouse within the premises of the company.

       “The strategically located new warehouse would enhance the liner’s service offerings and capacity in Malaysia with a greater suite of logistics solutions.

       “The new facility will also create employment opportunities for local employees.

       “For Westports, the warehouse is synergistic to the terminal as the container shipping company is one of our top clients and a member of the Ocean Alliance.”