HPH Trust Q3 earnings dip due to higher tax

Singapore

HUTCHISON Port Holdings Trust (HPH Trust) on Friday posted a 2.9 per cent drop in profit attributable to unitholders to HK$232.5 million (S$40.4 million) for its third quarter ended Sept 30, 2019 due to higher taxation.

The trust's revenue and other income for the quarter held steady at HK$3.03 billion, due to a comparable combined container throughput of its container terminals to the year-ago quarter.

The average revenue per twenty-foot equivalent unit (TEU) for Hong Kong was below last year's, mainly due to the increased transshipment mix, but for China, the average revenue per TEU w…