Hutchison said port volumes fell 8%
Hutchison Whampoa reported profit attributable to stockholders of HK$5.7 billion ($735 million) in the first six months of the year, 33 percent less than in the same 2008 period.
Revenue was HK$141 billion ($18 billion), down 20 percent from the first half of 2008.
The Hong Kong-based port operator said, “The sharp reduction in global trade volume that started in the fourth quarter of last year continued into the first quarter of 2009. During the second quarter, volumes generally stabilized, albeit at levels well below 2008.”
The company said it handled throughput of 30.3 million TEUs in the first half, 8 percent less than in the same period last year.
The company said “although trade volumes are normally seasonally higher in the second half of the year, the group's current expectation is that trading activity will recover slowly, presenting a continuing challenge to the division's full year earnings prospect.”