HONG KONG, Aug 5 (Reuters) - CK Hutchison, the
ports-to-telecoms arm of retired billionaire Li Ka-shing, posted
a 41% rise in first-half net profit on Thursday, helped by
recoveries in ports and retail and in energy following its
merger with Cenovus Energy.
Profit rose to HK$18 billion ($2.31 billion) from HK$13
billion a year earlier, after accounting adjustments.
Chairman Victor Li said in a statement he expects the
group's growth trajectory to deliver a solid performance for the
Sister company CK Asset, a major property
developer in Hong Kong which also has interests in aircraft
leasing, infrastructure and utility assets overseas, reported a
first-half net profit up 31% to HK$8.4 billion.
That was led by a $2.2 billion deal to acquire interests in
four European utilities from the Li Ka Shing Foundation.
CK Hutchison declared an interim dividend of HK$0.8 per
share, up 30% from a year earlier, while CK Asset's was HK$0.41,
Shares of CK Hutchison ended up 0.1% on Thursday ahead of
the results, while CK Asset fell 1.7%. The Hang Seng Index
closed 0.8% lower.
($1 = 7.7766 Hong Kong dollars)
(Reporting by Clare Jim; editing by Jason Neely)