HPH Trust reports 11% lower 3Q earnings of $42.3 mil as throughput falls; rejects ROFR offer

SINGAPORE (Oct 26): The trustee-manager of Hutchison Port Holdings Trust (HPH Trust) reported 3Q18 earnings ended Sept of HK$239.5 million ($42.3 million), 11% lower than last year.

Revenue and other income for the quarter came in at HK$3,026.6 million, 6.1% below last year.

Combined container throughput of Hongkong International Terminals (HIT), COSCO-HIT and ACT (Asia Container Terminals) -- collectively known as HPHT Kwai Tsing -- decreased by 16.7% as compared to the same quarter in 2017, primarily due to the decrease in transshipment cargoes.

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