HPH Trust reported a revenue of HK$5.65 billion, up 6.3% y-o-y for the 1HFY2025. For the period, operating profit came in 15.6% y-o-y higher at HK$2.13 billion.
Combined container throughput of its terminals 4, 5, 6, 8 East, 8 West and two berths in terminal 9 located in Kwai Tsing, Hong Kong decreased by 3.3% y-o-y in 2025 as compared to the same period in 2024, primarily due to lower empty and transshipment cargoes.
The container throughput in Shenzhen China increased by 12.7% y-o-y in 2025 as compared to the same period in 2024, primarily driven by the increase in laden export, inbound empty and transshipment cargoes.
Average revenue per twenty-foot equivalent unit (TEU) for Hong Kong was above last year, mainly attributed to higher storage income. For average revenue per TEU in China, it was below last year, mainly attributed to higher portions of empty and transshipment cargoes.
As at 30 June 2025, 50% of HPH Trust’s debts are at fixed interest rates. The sharp fall in Hong Kong Interbank Offered Rate (HIBOR) during 2QFY2025 was largely driven by direct intervention of the Hong Kong Monetary Authority to defend the currency peg. Whether HIBOR will stay at this lower level remains uncertain, says the trust.
HPH Trust’s monthly interest expense would increase by approximately HK$2.6 million for every 25 basis points rise in HIBOR. Interest expense will increase when HPH Trust refinances its maturing debts in 2026 that were drawn at the low end of the interest rate cycle four years ago, it adds.
On outlook, HPH Trust says that it is closely monitoring the situation as signals of potential easing of trade tensions between China and the US are on the horizon as trade talks have resumed. The trust says that growth in China’s exports to the EU is expected to follow the same trajectory as seen in 1HFY2025 with exports to EU growing 13% y-o-y in the first half of the year.
Units in HPH Trust closed 0.1 US cent higher or 0.546% up at 18.4 US cents on July 22.
