HPH Trust Q1 earnings sink

NET profit for port operator Hutchison Port Holdings Trust plummeted 69.9 per cent to HK$166.9 million (S$29.9 million) from the previous year, though the drop would have been milder at 15.7 per cent if excluding a one-off rent and rates refund in 2016.

For the three months ended March 31, revenue dropped 6.3 per cent to HK$2.58 billion from the previous year, it said in a Singapore Exchange filing on Monday evening.

Earnings per unit sank to 1.92 HK cents from 6.37 HK cents in the year-ago period. HPH Trust units finished half a US cent or 1.2 per cent higher at US$0.41 on Monday before the results were out.