Company Briefs: Hutchison Port Holdings Trust

Hutchison Port Holdings Trust

Hutchison Port Holdings Trust posted stagnant fourth-quarter earnings as revenue slid on the back of lower volumes.

Net profit for the three months to Dec 31 was flat at HK$390.1 million (S$71.3 million), compared with the HK$390 million in the same period a year ago.

However, including one-off gains such as the sale of its 60 per cent interest in a Hong Kong terminal in 2014 and the cessation of Jiuzhou's economic benefits, net profit surged 102.9 per cent to HK$533.3 million, compared to the HK$18.61 billion loss previously.

The trust declared a lower distribution of 18.7 Hong Kong cents per unit, down from the 22.3 HK cents previously.

Revenue slid 4.9 per cent to HK$3.03 billion, as container throughput of its assets in Hong Kong's Kwai Tsing slumped 13.5 per cent, dragged down by "weaker intra-Asia and transshipment cargoes", it said.

Full-year net profit excluding the one-off gains climbed 2.9 per cent to HK$1.61 billion, while revenue was little changed at HK$12.61 billion, a marginal 0.1 per cent decrease.


The Hour Glass

Luxury watch retailer The Hour Glass has posted a third-quarter net profit of $14.5 million, down 2 per cent from a year ago. Revenue in the three months to Dec 31 was flat at $186.4 million.

Operating expenses were higher due to the group's expanded retail network and a $2 million donation made to commemorate Singapore's 50th anniversary, The Hour Glass said yesterday.

Third-quarter earnings per share stood at 2.06 cents, down from 2.10 cents a year ago. Net asset value per share was 60 cents as at Dec 31, up from 58 cents as at March 31 last year.


GP Batteries International

GP Batteries International has posted a third-quarter net profit of $651,000, down 83 per cent from a year ago as sales continue to slow.

Revenue for the three months ended Dec 31 was $193.1 million, up 1.9 per cent over the same period last year. But in US dollar terms, revenue was down 7.1 per cent due to a much weaker Singapore dollar.

Third-quarter earnings per share stood at 0.41 cent, down from 2.32 cents a year ago, while net asset value per share was $1.58 as at Dec 31, down from $1.61 as at March 31 last year.

A version of this article appeared in the print edition of The Straits Times on February 03, 2016, with the headline 'CompanyBriefs'. Print Edition | Subscribe