Hong Kong's Hutchison Whampoa 2009 net profit increased 12 per cent to HK$14.1 billion (US$1.8 billion), drawn on revenues of HK$300.5 billion, which were down 14 per cent from 2008.
The group's port unit, Hutchison Port Holdings (HPH), the world's biggest container terminal operator, had its pre-tax profit fall of 7.3 per cent year on year to HK$5.9 billion which drew on revenues of HK$33,427 million, which declined of 16 per cent from the year before.
The parent company also invests in oil and gas, cell-phone networks, drug stores and real estate. HPH accounted for 27 per cent of the parent company's pre-tax earnings.
HPH, which owns 306 berths in whole or in part in 50 ports worldwide, handled 65.3 million TEU, a decrease of three per cent with China and Hong Kong volume falling eight per cent and terminal operations profit declining 19 per cent.
The HPH division faced a "very difficult year due to the sharp reduction in global trade volume and lower average tariffs. The division handled total throughput of 65.3 million TEUs for the full year 2009, three per cent lower than the year before," said a company statement.
The parent's annual report said the major contributors to HPH's overall three per cent throughput decline were Hong Kong and mainland ports for eight per cent; ports in Asia (excluding Hong Kong and the Mainland) for seven per cent and ports in the Americas for 10 per cent.
"Major contributors to the division's overall 21 per cent pre-tax profit fall were: Ports in Hong Kong and the mainland, 19 per cent; ports in Europe, 23 per cent; ports in Asia (excluding Hong Kong and the mainland), seven per cent and ports in the Americas, 27 per cent," said the company statement.
The group's port unit, Hutchison Port Holdings (HPH), the world's biggest container terminal operator, had its pre-tax profit fall of 7.3 per cent year on year to HK$5.9 billion which drew on revenues of HK$33,427 million, which declined of 16 per cent from the year before.
The parent company also invests in oil and gas, cell-phone networks, drug stores and real estate. HPH accounted for 27 per cent of the parent company's pre-tax earnings.
HPH, which owns 306 berths in whole or in part in 50 ports worldwide, handled 65.3 million TEU, a decrease of three per cent with China and Hong Kong volume falling eight per cent and terminal operations profit declining 19 per cent.
The HPH division faced a "very difficult year due to the sharp reduction in global trade volume and lower average tariffs. The division handled total throughput of 65.3 million TEUs for the full year 2009, three per cent lower than the year before," said a company statement.
The parent's annual report said the major contributors to HPH's overall three per cent throughput decline were Hong Kong and mainland ports for eight per cent; ports in Asia (excluding Hong Kong and the Mainland) for seven per cent and ports in the Americas for 10 per cent.
"Major contributors to the division's overall 21 per cent pre-tax profit fall were: Ports in Hong Kong and the mainland, 19 per cent; ports in Europe, 23 per cent; ports in Asia (excluding Hong Kong and the mainland), seven per cent and ports in the Americas, 27 per cent," said the company statement.