HPH Trust – BT

HPH Trust Q1 profit in line with target

HUTCHISON Port Holdings (HPH) Trust posted a net profit attributable to unitholders of HK$462.8 million (S$74.3 million) for the quarter ended March 31, 2012, sliding in one per cent ahead of its projected figure in its initial public offering prospectus last year.

Revenue and other income, however, fell 6 per cent short of projections, at HK$2.84 billion for the quarter.

While throughput at its Hong Kong terminals rose 9.4 per cent year-on-year and also beat the projection as transhipment volumes grew, throughput from its Yantian International Container Terminals (YICT) side dipped 0.4 per cent year-on-year and also fell 12.3 per cent short of the projection.

The trust declares a distribution per unit (DPU) on a semi-annual basis, with the amount calculated as at June 30 and Dec 31 each year.