2020-06-01 . Paul YONG [CFA] - Hutchison Port Holdings Trust - Weak PMI Numbers A Warning. However, in the second quarter, the decline was significantly less -1% at HPHT Kwai Tsing and 8% at YICT with June in particular seeing encouraging improvement.Based on the latest developments, manufacturing in China has mostly resumed and many overseas countries have loosened lockdown and border controls.It is expected that the negative impact of COVID-19 on our volume will gradually be reduced.During this difficult business environment, HPH Trust has been exploring different initiatives to improve performance. Log in to see them here or sign up to get started.Create a list of the investments you want to track.Visit a quote page and your recently viewed tickers will be displayed here. Zuckerberg says there's 'no end in sight' to working from home Manufacturing in China was at a standstill as factories completely suspended production after the Chinese New Year.
Paul YONG [CFA] - Hutchison Port Holdings Trust - Weak PMI Numbers A Warning. Hutchison Port Holdings Trust is a container port business trust. ; Operating profit decreased by 17% y-o-y to HK$750.7m while PATMI turned from a loss of HK$12.1b in 4QFY18 to HK$62.3m in 4QFY19, mainly due to the absence of impairment loss …
It also offers port ancillary services. Average revenue per TEU for Hong Kong was below last year, mainly attributed to the increased transshipment mix and write-back of agency fee provision in 2019following the finalisation of tariff negotiation. However, in the second quarter, the decline was significantly less -1% at HPHT Kwai Tsing and 8% at YICT with June in particular seeing encouraging improvement.Based on the latest developments, manufacturing in China has mostly resumed and many overseas countries have loosened lockdown and border controls.It is expected that the negative impact of COVID-19 on our volume will gradually be reduced.During this difficult business environment, HPH Trust has been exploring different initiatives to improve performance. Have Watchlists? For more info go to our Cookie Policy The container throughput of YICT (e) decreased by 12.2% as compared to the same period in 2019, primarily driven by the decrease in the US, EU and empty cargoes.
Average revenue per TEU for China was comparable to last year.Cost of services rendered was HK$1,567.4million, HK$333.3million or 17.5% below last year. Combined container throughput (a)of HIT(b) , COSCO-HIT(c) and ACT(d) (collectively “HPHT Kwai Tsing”) decreased by 2.9% as compared to the same period in 2019, primary due to the decrease in intra-Asia, US and transshipment cargoes.
Hutchison Port Holdings Trust ("HPH Trust") is the world's first publicly traded container port business trust. Against this backdrop, HPH Trust will continue to build on its strengths and is committed to serving its customers, supporting and complementing this industry shift through its unparalleled mega-vessel handling capabilities and continuous process improvements. Revenue and other income for the period was HK $4,776.7million, HK $647.1million or 11.9% below last year. Hutchison Port Holdings Limited (HPH), trading as Hutchison Ports, is a private holding company incorporated in the British Virgin Islands. 2020-06-01 . Profit attributable to unitholders of HPH Trust was HK$212.4million, HK$21.0million or 9.0% below last year.Material changes in statement of financial position and consolidated statement of cash flowsWhere a forecast, or a prospect statement, has been previously disclosed to unit holders, any variance between it and the actual results.No forecast statement for the financial year 2020has been disclosed.Commentary on the significant trends of the competitive conditions of the industry in which the Group operates and any known factors or events that may affect the Group in the next reporting period and the next 12 months.The COVID-19 outbreak early this year has spread rapidly worldwide.
This was attributed to lower throughput, savings arising from SPA arrangement and cost control initiatives, RMB depreciation and reduction in operating costs due to PRC government’s supportive measures to COVID-19, but partially offset by the general cost inflations, including the increase in external contractors’ costs.Staff costs were HK$128.3million, HK$19.9million or 13.4% below last year primarily due to lower headcount, RMB depreciation and reduction in staff costs due to PRC government’s supportive measures to COVID-19, but partially offset by general cost inflations.
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