HUTCHISON Port Holdings Trust 's bottom line fell 33.4 per cent to HK$96.9 million for the first quarter ended March 31.
The group posted an earnings per unit of 1.11 HK cents, down from 1.67 HK cents. Revenue came in at HK$2.7 billion, inching up 0.3 per cent. Combined container throughput of its Kwai Tsing terminals in Hong Kong decreased 9.6 per cent mainly due to a fall in transshipment charges. But the container throughput of its terminals in Yantian, Shenzhen rose 4.6 per cent, driven by growth in the empty and transshipment cargoes.
Average revenue per twenty-foot equivalent unit for Hong Kong came in higher compared to last year, mainly due to the increased barge-to-vessel transshipment mix, decreased empty mix and the write-back of agency fee provision following the finalisation of tariff negotiation. For China, it was lower compared with a year ago largely due to the depreciation of the yuan.Other operating income was HK$9.5 million, 85.
Taxation rose 22.8 per cent to HK$107 million mainly due to the increase of tax rates upon the expiries of the"High and New Technology Enterprise" status of YICT Phase I & II and the tax exemption period for YICT's West Port Phase II berth #4 at the end of 2018, partially offset by lower profit.
Source: News Formal (newsformal.com)
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