Westports Shares Up After Stronger 1Q 2026 Results
KUALA LUMPUR, May 18 (Bernama) -- Port operator Westports Holdings Bhd was among Bursa Malaysia’s top early gainers after posting higher results in the first quarter ended March 31, 2026 (1Q 2026).
At 10.32 am, the stock rose 19 sen to RM6.00, with 1.06 million shares traded.
In a filing with the exchange last Friday, the group said its net profit jumped to RM326.50 million in 1Q 2026 from RM222.46 million a year earlier, due to lower operational costs in 4Q 2025.
Revenue for the quarter also strengthened to RM896.28 million, up from RM621.29 million year-on-year, mainly attributable to higher container revenue, while earnings per share climbed to 9.54 sen from 6.52 sen.
Today, RHB Investment Bank Bhd said Westports’ 1Q 2026 results and throughput volumes came in within expectations despite the full impact of higher fuel costs, which is only expected to be seen in the coming quarters.
“We recommend investors accumulate on weakness, as we believe the conflict risks have largely been priced in.
“Westports is trading at 15.9 times price to earnings, and we continue to see upside potential should the government establish the fuel cost pass-through mechanisms, although the timeline remains unclear for now,” it said in a research note.
The investment bank said the group’s earnings forecast is achievable, as it has factored in an average 30 per cent increase in fuel costs stemming from the West Asia conflict.
“We maintain our throughput growth forecast of 4.5 per cent, within management’s unchanged guidance of low single-digit growth,” it said.
RHB Investment Bank has maintained Westports’ earnings and target price (TP), given the in-line results with TP of RM6.55 per share.
-- BERNAMA