Hong Kong's CK Hutchison first-half profit rises 3 pct, meets estimates

Thu Aug 11, 2016 5:30am EDT
 
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HONG KONG Aug 11 (Reuters) - CK Hutchison Holdings Ltd , held by Asia's richest man, Li Ka-shing, on Thursday said net profit rose 3 percent in the first half of the year, as strength in infrastructure, retail and telecoms offset reduced profitability at unit Husky Energy Inc.

January-June profit reached HK$14.92 billion ($1.92 billion), in line with the HK$14.7 billion average of four estimates from analysts polled by Reuters. Total revenue fell 8 percent to HK$180.51 billion.

CK Hutchison has significant investments in Britain and the European Union (EU). In June, after Britain voted to leave the EU, the conglomerate said it was confident its British business would continue to thrive.

Last month, CK Hutchison-owned Husky Energy Inc booked a second-quarter loss that was narrower than analysts had expected, while sister company Cheung Kong Infrastructure Holdings Ltd said first-half profit rose 5 percent.

($1 = 7.7556 Hong Kong dollars) (Reporting by Donny Kwok)