The trust’s strong performance, which was mainly led by higher storage income, is expected to partially continue into the FY2022 as port congestions remain high.
DBS Group Research analyst Paul Yong has kept his “buy” recommendation on Hutchison Port Holdings Trust (HPHT) after the trust’s “stellar” results for the FY2021 ended December roundly beat Yong’s expectations.
On Feb 9, HPHT reported FY2021 net profit of HK$1.75 billion ($301.0 million), up 110% y-o-y on exceptional storage, while its distribution per unit (DPU) for the FY2021 came up to 14.5 HK cents, above the brokerage’s street high forecast of 14 HK cents.
