HPH Trust's Q1 earnings up 47% at HK$558.9m

HUTCHISON Port Holdings Trust (HPH Trust) saw a 47 per cent increase in net profit to HK$558.9 million (S$90.6 million) for its first quarter ended March 31, 2014, compared with HK$380.3 million a year ago.

Helping the rise in profit attributable to unitholders was other operating income of HK$245.7 million, largely from a net gain of HK$243.8 million from the disposal of a 60 per cent effective interest in Asia Container Terminals (ACT). This left the group with a 40 per cent interest.

The group's revenue increased by 2.7 per cent to HK$2.95 billion.