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HPH Trust H1 2024 DPU falls despite increase in earnings
DPU slips to HK$0.05 on a lower distribution amount
HUTCHISON Port Holdings (HPH) Trust on Tuesday (Jul 23) reported a 66.6 per cent increase in earnings for the first half of 2024 to HK$158.1 million (S$27.2 million), from HK$94.9 million in H1 2023.
Despite the increase in earnings, distribution per unit (DPU) for the period fell to HK$0.05, from HK$0.055 in H1 2023, on a lower distribution amount.
Revenue for the period rose 2.6 per cent to HK$5.3 billion from HK$5.2 billion a year prior. This was due mainly to the 11 per cent year-on-year increase in container throughput at the trust&rsquo s Yantian International Container Terminals in China.
The higher throughput was driven by increases in laden exports, inbound empty containers, and transshipment cargoes.
This was partially offset by the container throughput of HPH Trust&rsquo s other ports in Kwai Tsing, Hong Kong, which fell 6.9 per cent in H1 2024 &ndash compared with H1 2023 &ndash on fewer local and transshipment cargoes.
The average revenue per container fell below 2023 levels due to lower storage income and renminbi depreciation.
As at Jun 30, 64 per cent of HPH Trust&rsquo s debts were on fixed interest rates, reducing its exposure to the market&rsquo s current high interest rates.
Should interest rates decrease by 25 basis points, the trust&rsquo s monthly increase expense would decrease by about HK$1.9 million. However, the trust could see a significantly higher interest rate when it refinances its debts between November 2024 and March 2025.
HPH Trust noted that its peak season started earlier than usual this year, with shipments to the US ahead of Christmas already underway as businesses try to avoid the increases in general freight rates around the end of the year.
The trust&rsquo s ports have also benefited from disruptions from nearby ports including Singapore, as vessels are returning out of schedule due to the Red Sea crisis. Extra loaders have been calling at Hong Kong since June.
The trust also said it is committed to reducing its overall emissions intensity by 30 per cent between 2021 and 2030.
forgot, also hold for psa hopefully to sell to hutchinson
honesty ( Date: 24-Jul-2024 12:32) Posted:
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should be valued beyond 0.20, anyway good to keep for dividend and impending ports growth
Alignment ( Date: 24-Jul-2024 11:51) Posted:
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Nice results - profit 67% higher than last year!
Next week ex-date for HKD 5.5 cents dividend.
Trade with awareness and DYODD
Trade with awareness and DYODD
Consolidation would seem to make sense.
remember somewhere last year, PSA was mulling to sell their stakes, will this happen, and at what price, hopefully US0.50, and use the money to expand tuas bigger, alternatively buy up hutchinson and run all the ports
Moving up nicely.
Trade with expectation and DYODD
Trade with expectation and DYODD
This one going for dividend next month.
Trade with upside and DYODD
Trade with upside and DYODD
Confirm need viagra can only maintain for 1 hr today 😆
You just need to play along with them.
Trade with expectation and DYODD
Trade with expectation and DYODD
SAVIORFOREVER ( Date: 28-May-2024 13:38) Posted:
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This counter highly manipulated.
Trade with awareness and DYODD
Trade with awareness and DYODD
Asdfgh101 ( Date: 28-May-2024 11:50) Posted:
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Can someone explain how this company works? It seems with the shortage of containers globally for the past few months, the ports should be empty and revenue should increase due to more containers being handled? This seems dead while Samudera and YZJ is up up and away in terms of shipping play...can't be containers in tow and storage dont make money, warehouse without containers also dont make money
Its both. Trade with bull and bear.
First, a bull wave to 13.
Then towards 10 in many waves with many other tops at 12.5, 12, 11.5, 11, 10.5.
In technical terms,
short-term bullish, but medium to long-term bearish.
First, a bull wave to 13.
Then towards 10 in many waves with many other tops at 12.5, 12, 11.5, 11, 10.5.
In technical terms,
short-term bullish, but medium to long-term bearish.
SAVIORFOREVER ( Date: 22-May-2024 21:46) Posted:
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First 10 now 13.
Trade with bear or bull and DYODD
Trade with bear or bull and DYODD
MrBear12 ( Date: 22-May-2024 16:07) Posted:
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Nice. 13 cent target.
SAVIORFOREVER ( Date: 22-May-2024 16:00) Posted:
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Q122.
Trade with foresight and DYODD
Trade with foresight and DYODD
MrBear12 ( Date: 22-May-2024 10:34) Posted:
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I see you at 12.5.
SAVIORFOREVER ( Date: 22-May-2024 10:32) Posted:
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126 still supported.
Trade with caution no short and DYODD
Trade with caution no short and DYODD
MrBear12 ( Date: 20-May-2024 11:16) Posted:
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10 cents.