From Malay Mail · · 1m 10s
Westports shares rise as nine-month net profit tops RM1b
Westports Holdings Bhd shares jump after nine-month net profit hits RM1.02 billion.
In brief
Westports Holdings Bhd shares jump after nine-month net profit hits RM1.02 billion. Westports Holdings Bhd's shares rose as its nine-month net profit exceeded RM1 billion, beating market expectations. Originally reported by Malay Mail.
Westports shares rise
Westports Holdings Bhd shares rose in early trading after exceeding market expectations in its nine-month financial results.
Nine-month net profit hits RM1.02 billion
Westports' nine-month net profit rose to RM1.02 billion from RM725.19 million, exceeding market expectations.
Third quarter profit jumps 26%
Westports' third quarter net profit increased by 26 per cent to RM342.55 million from RM271.1 million the previous year.
Revenue up 42% to RM1.06 billion
Westports' third quarter revenue rose by 42 per cent to RM1.06 billion from RM751.99 million in the same quarter a year ago.
MBSB Investment Bank raises forecast
MBSB Investment Bank raised its earnings forecast by 2.8 per cent to 3.0 per cent, citing lower operating costs.
Electricity costs drop 28.9%
Westports' electricity costs fell 28.9 per cent year-on-year due to favourable tariffs and green energy.
The bottom line
Westports Holdings Bhd's shares rose as its nine-month net profit exceeded RM1 billion, beating market expectations.
