PETALING JAYA: Perak Transit Bhd’s net profit rose 14.1% to RM13.65mil in the third quarter ended Sept 30, 2021 (Q3’21) from RM11.96mil a year ago, driven by rental income from leasing some commercial area in the terminals to logistics, warehousing and distribution tenants.

       The company has declared a fourth interim dividend of 0.825 sen per share in line with the stronger financial performance.

       During the quarter in review, the group’s revenue was up 0.6% to RM35.23mil compared to RM35.02mil a year ago.

       Perak Transit said in a statement that revenue in the quarter was higher mainly due to higher income from the leasing of advertising and promotional space and rental income from leasing some commercial area in the terminals to logistics and/or warehousing and distribution tenants which commenced in September 2021.

       “Besides that, other contributor includes stable operations from the matured Terminal Meru Raya. Stage buses could operate as usual during movement control orders (MCOs) and the full MCO,” it said.

       On a positive note, Perak Transit’s executive director Datuk Cheong Peak Sooi said the group has been diligent in the implementation of new business strategies to position itself for sustainable long-term growth.

       “The growing trend of logistics and e-commerce in the new normal has opened up new business opportunities, so we have proactively transformed some commercial area in the integrated public transportation terminals into logistics hubs to position our group for the next growth driver,” he added.

       Cheong said the group is well positioned to benefit from the reopening of the economy and good earnings contributing from its new logistics business while its core businesses continue to show resilient performance.