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Ports boost Hutchison

Ports boost Hutchison

Hong Kong: A strong performance from its ports division helped Hong Kong conglomerate Hutchison Whampoa to a healthy interim result. Total revenue for ports and related services grew 7% to $HK15.36bn while combined throughput for its container terminals increased 12% to 27.5m teus over last year's first half. Major contributors to volume growth were the Shanghai ports where volumes increased 45%. In April the group took advantage of the substantial increase in the value of the ports division to offload a 20% stake to the Port of Singapore Authority for a cash consideration of $HK4.39bn and a profit on disposal of  $HK24.38bn. Worldwide, the group has interests in 43 ports comprising 251 berths in 21 countries. (24/08/06)

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