Kuala Lumpur: Westports Holdings Bhd posted a net profit of RM699.58 million in the financial year ended 31 December 2022 (FY22), up from RM808.22 million recorded in FY2021.
However, this year’s revenue was RM207 million, a slight increase from the previous RM202 million.
“The container segment contributed 86% of total revenue with a throughput of 10.052 million foot equivalent units (TEU). Some have shown, while others may have contributed to long-term structural changes,” it said in a filing to Bursa Malaysia.
For the fourth quarter ended 31 December 2022, Westports’ net profit increased to RM235.04 million from RM222.88 million in the same period last year.
The port operator also recorded higher revenue of RM521.14 million compared to previous RM503.9 million.
“The domestic economy has been relatively resilient, with export-oriented sectors benefiting from increased competitiveness due to the weakening of the local currency.
“Certain sectors have benefited from regionalization and foreign direct investment, as the latter has taken advantage of the country’s competitive advantages. Gateway volume increased by 9% to 3.97 million TEUs. , we saw significant growth in the third and fourth quarters of 2022,” he added. – Bernama