Posted on April 25, 2016
Singapore-listed Hutchison Port Holdings Trust reported year-over-year drops in revenue, operating profit and net income of 7 percent, 10 percent and 26 percent for the first quarter of 2016.
The company, which owns and operates deep-sea container terminals in Hong Kong and mainland China, booked a net profit of 210.1 million Hong Kong dollars ($27.1 million) on the back of 2.75 billion Hong Kong dollars in revenue from January to March. Operating profit was 742.2 million Hong Kong dollars.
Throughput declined 8 percent compared with the same period last year, with volumes at South China’s Yantian International Container Terminals down 1 percent and combined volumes at the Hong Kong operations — Hongkong International Terminals, Cosco-HIT and Asia Container Terminals — down 13 percent year-over-year.
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