Hutchison profits up 14pc to US$1.51 million in 2011, revenue rises 12pc

HONG KONG's Hutchison Port Holdings (HPH) posted a 14 per cent year-on-year operating profit increase to HK$11.74 million (US$1.51 million) in 2011, drawn on revenues of HK$32.52 million, up 12 per cent.

Its total container throughput grew five per cent to 75.1 million TEU in 2011, in which Hutchison's European facilities account for 34 per cent of its total volumes to 25.5 million TEU, the largest share among HPH's worldwide port facilities.

HPH, the second biggest port operators in the world, behind Singapore's PSA, opened some additional facilities in Barcelona, Huizhou, Brisbane and Klang in the course of 2011.

Looking ahead, HPH said it will continue to open six new deepwater berths in 2012 to enhance the efficiency of handling containers, "including the first three of five berths in the first phrase of Terminal Catalunya's new Muelle Prat terminal in Barcelona, Spain" to serve southern Europe as well as Spain.

Also, its first of two berths at the new Huizhou International container Terminal in China and one additional berth in Westports Malaysia will be opened for service this year.

And in the fourth quarter of 2012, its green field port in Brisbane, Australia will start operation.

"In addition to the six new berths to be opened in 2012, nine berths are expected to come into operation in 2013, including two berths from the division's (HPH) green-field port in Sydney, Australia."

So far, HPH operates 315 berths in 52 ports worldwide, covering 26 countries in Asia, the Middle East, Africa, Europe, Americas and Australasia.

Of the future, Hutchison Whampoa chairman Li Ka-shing said: "A measure of uncertainty is expected to remain in 2012. Monetary tightening in the mainland (China), which has successfully curbed inflation, will slow the rate of growth in the short term but growth will continue to increase in the long term."