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4 months ago
Li Ka-shing's CK Hutchison says 2016 profit up 6 pct, above view
March 22, 2017 / 8:57 AM / 4 months ago

Li Ka-shing's CK Hutchison says 2016 profit up 6 pct, above view

1 Min Read

HONG KONG, March 22 (Reuters) - CK Hutchison Holdings Ltd , the ports-to-telecoms arm of billionaire businessman Li Ka-shing, said on Wednesday net profit rose 6 percent in 2016, helped by stable earnings from its infrastructure, telecommunications and retail units.

January-December profit reached HK$33.01 billion ($4.25 billion), slightly higher than the HK$32 billion average of 11 estimates from analysts polled by Reuters. It posted a profit of HK$31.17 billion in 2015.

Total revenue fell 6 percent to HK$372.69 billion from HK$396.09 billion a year ago.

CK Hutchison has significant investments in Britain and the European Union (EU). In February, it had agreed to buy PCCW Ltd's British broadband internet business for 300 million pounds. ($1 = 7.7668 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Muralikumar Anantharaman)

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