HPH Trust's Q3 earnings down 8.4%

HIGHER interest and other finance costs as well as lower contributions from joint ventures resulted in an 8.4 per cent decline in profit attributable to the unitholders of Hutchison Port Holdings Trust (HPH Trust) at HK$539.2 million (S$86.3 million) for the third quarter ended Sept 30, 2013.

This translated to an earnings per unit attributable to the trust's unitholders of 6.19 HK cents, down from 6.76 HK cents.

At the same time, revenue and other income for the quarter rose one per cent to HK$3.36 billion, the trust's trustee-manager said yesterday. However, a 38 per cent fall in the trust's share of its joint ventures' profits, less losses after tax from HK$39.2 million to HK$24.3 million, resulted in a lower bottom line.