HPH Trust loses ground as analysts slash earnings forecast

Singapore

THE counter of Hutchison Port Holdings Trust (HPH Trust) lost ground on Monday as analysts slashed earnings forecasts, following a HK$19 billion (S$3.32 billion) impairment charge on goodwill allocated to its cash-generating unit in Hong Kong, which dragged the trust into a net loss of HK$18.6 billion in Q4 FY14, compared to a net profit of HK$334.8 million in the same period a year ago.

With the impairment, the trust's fourth-quarter net book value per share also fell from US$0.96 to US$0.70 while net gearing climbed by almost 0.6 times.