HUTCHISON Port Holdings Trust's (HPHT) distribution per unit (DPU) fell by about 28.3 per cent to 4.3 HK cents for the six months ended June 30, 2020, from six cents a year ago. Read more at The Business Times.
Outbound cargoes to the US and Europe registered a double-digit year-on-year fall in the first half of this year.
The throughput decline in the first quarter was 4 per cent at the Kwai Tsing operations and 16 per cent at the Yantian terminals. However, there was"encouraging improvement" seen in June, and the second quarter's decline was"significantly less" at 1 per cent for Kwai Tsing and 8 per cent for Yantian, HPHT said.
Net profit declined by 9 per cent to HK$212.4 million, from HK$233.4 million in the first half of last year.Manufacturing in China has mostly resumed, and many markets have loosened lockdown and border controls, thus HPHT expects to see a gradual reduction in the negative impact of the pandemic on its volumes.was due to the repayment of debtUnits of HPHT gained 0.1 US cent or 1 per cent to close at 10.4 cents on Monday, before the results were released.
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