HPH Trust Stays in the Black
Image Courtesy: HPH TrustDespite the slow market conditions in 2015, the Singapore-listed container port business trust Hutchison Port Holdings Trust (HPH Trust) managed to end the year in black, as the company’s revenue and other income for the year was at HKD 12.6 billion (USD 1.6 billion).
The number represents a decrease of a mere 0,1 percent or USD 1.2 million, compared to the results from 2014.
The company’s terminals handled a total of 23.9 million TEU in 2015, also representing a slight fall of one percent from 24.2 million TEU handled in 2014.
Additionally, the company posted a net profit of USD 110,327 for the last three months of the 2015 financial year.
Container throughput of HPH’s Hong Kong terminals HIT, COSCO-HIT and ACT, decreased by 13.5% as compared to the same quarter in 2014, while the container throughput of Yantian International Container Terminal (YICT) decreased by 0.6% as compared to the same quarter in 2014.
The decline was mainly due to weaker intra-Asia and transshipment cargoes and weaker US and transshipment cargoes.
During the fourth quarter of 2015, HPH divested its interest in Zhuhai International Container Terminals, one of the river ports in which the group has an economic benefit.
