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2010 August 9   08:42

Hutchison Port Holdings H1 container volume up 35 percent to 35.3 million TEUs

Hong Kong-based Hutchison Port Holdings, the world's largest container port operator in volume, said its earnings before interest and taxes rose 35 percent as its container throughput increased 17 percent to 35.3 million 20-foot equivalent units in the first half of 2010.

The port division of Hutchison Whampoa had earnings before interest and taxes of $782 million as revenue increased 14 percent to $2.3 billion. The increased EBIT included a one-time $71 million gain from a required marking of an investment to market value.

Volume for the group's ports and related services increased 15 percent in China and Hong Kong, 21 percent in the rest of Asia, 16 percent in Europe and 21 percent in the Americas.

Profit rose 59 percent from operations in the Americas, 13 percent in China and Hong Kong, 14 percent in the rest of Asia and 4 percent in Europe. Hutchison operates in 51 ports in 25 countries.

Hutchison Whampoa, controlled by billionaire Li Ka-shing, had an overall 12 percent increase in net income to $830 million. Revenue for the group, whose non-port interests include telecommunications, energy and real estate, rose 8 percent to $19.7 billion. Group-wide EBIT increased 34 percent to $2.19 billion.

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