March 29, 2011 / 9:00 AM / in 6 years

Hutchison profit beats forecasts as 3G recovers

HONG KONG, March 29 (Reuters) - Hutchison Whampoa Ltd , billionaire Li Ka-shing’s ports-to-telecoms flagship company, beat expectations with a 47 percent rise in 2010 earnings, driven in part by a turnaround in its 3G telecom operations.

Hutchison, whose businesses include third-generation network operator 3 Group and Watsons retail stores, reported a net profit of HK$20.04 billion ($2.58 billion) for 2010.

This was 47 percent higher than the restated profit of HK$13.63 billion for 2009, and HK$16.03 billion analysts had forecast for 2010.

Hutchison shares have risen about 13 percent this year, outperforming a 0.24 percent gain in the benchmark Hang Seng Index . (Reporting by Donny Kwok; Editing by Charlie Zhu)

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