Westports sees lower Q1 pre-tax profit despite rise in revenue

Kuala Lumpur

MALAYSIA'S Westports Holdings Bhd has registered a 15 per cent decline in pre-tax profit to RM179 million (S$57.5 million) for the first quarter to end March as revenues rose to RM520 million from RM464.7 million.

Excluding a one-off gain of RM20.4 million from the disposal of investment in quoted shares in the corresponding period last year, pre-tax profit dipped by 6 per cent mainly because of higher fuel costs. Earnings per share dipped to 4.13 sen (5.02 sen) on a net profit of RM141 million (RM171 million).