Hutchison Port Holdings Trust (NS8U.SG) Monday reported a 70% on-year decline in its first-quarter net profit as revenue fell and expenses rose.
Net profit in the March quarter fell to 166.9 million Hong Kong dollars (US$21.5 million) from HK$554.9 million a year ago, the Singapore-listed business trust said in a stock-exchange filing. The company is affiliated with Hutchison Ports, a unit of Hong Kong billionaire Li Ka-shing's CK Hutchison Holdings Ltd. (0001.HK).
Revenue fell to HK$2.58 billion from HK$2.75 billion a year ago. Total operating expenses rose 17% on year to HK$1.87 billion.
Write to Gaurav Raghuvanshi at firstname.lastname@example.org
(END) Dow Jones Newswires
April 24, 2017 06:13 ET (10:13 GMT)