However, HPHT is seen to report better operational performance for the current FY2023.
Hutchison Port Holdings Trust has reported a 37% drop in earnings for FY2022 but Paul Yong and Tabitha Foo of DBS Group Research, citing prospects of higher distribution in the coming couple of years, have kept their “buy” call and 37 US cents target price.
At HK$1.1 billion, earnings for HPHT’s FY2022 ended Dec 30 is 8% below Yong and Foo’s estimate. Revenue in the same year was down 8% y-o-y to HK$12.2 billion because of lower throughput volumes at the terminals under HPHT.
