hong kong\s hutchison whampoa profit up 632
Last Updated : GMT 07:35:27
Arab Today, arab today
Arab Today, arab today

Hong Kong\'s Hutchison Whampoa profit up 632%

Arab Today, arab today

Arab Today, arab today Hong Kong\'s Hutchison Whampoa profit up 632%

Hong Kong - AFP

Hong Kong\'s Hutchison Whampoa, controlled by the city\'s richest man Li Ka-shing, on Thursday said its half-year profit soared more than six-fold, largely driven by an asset sale. The ports-to-telecoms conglomerate said it booked a net profit of HK$46.29 billion ($5.93 billion) in the first half of 2011, a whopping 632 percent rise over the HK$6.32 billion profit it earned during the same period last year. Hutchison\'s revenue increased by a more modest 26 percent to HK$187.35 billion during the same period, it said. The firm\'s results included a gain of HK$44.3 billion from spinning off a ports unit in Singapore earlier this year. Excluding the sale of Hutchison Port Holdings, its parent said its net profit would have risen 44 percent over last year to HK$9.11 billion. Hutchison announced its results after markets closed in the southern Chinese financial hub with its shares down 0.87 percent to HK$90.35 apiece. i\'s flagship property firm, Cheung Kong Holdings, also benefited from its interest in Hutchison, reporting a 169 percent profit rise to HK$33.26 billion during the first-half of the year, it said. Revenue during the same period rose 28 percent to HK$26.1 billion, compared with HK$20.31 billion a year earlier, Cheung Kong said. Its shares closed 0.08 percent lower on Thursday at HK$119.6 each. The octogenarian tycoon, a household name in the city of seven million, said he was cautious about government measures to tame Hong Kong\'s soaring property prices, which have sparked widespread anger in the financial hub. \"Nevertheless, the market outlook is positive for the long term, supported by Hong Kong\'s strong economic fundamentals, favourable labour market conditions and continuing inflation,\" Li said in a statement Thursday. Li, nicknamed \"Superman\" for his long-running business success, later told a press briefing that he was concerned about the high-profile debt problems in the US and eurozone. \"The global economy is worrying,\" he told reporters. \"In Europe, many countries face debt problems. In the US, unemployment is still a problem for them and that affects the world. We are cautiously optimistic,\" Li added. This week, Li\'s Cheung Kong Infrastructure Holdings said it would buy one of Britain\'s biggest water utilities in a deal worth nearly $4 billion -- the largest deal by a Hong Kong entity in the country. The deal to buy Northumbrian Water was slated to close later this year. The 83-year-old Li was ranked in March as the 11th wealthiest person in the world by the Forbes rich list, with a net worth estimated at $26 billion.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

hong kong\s hutchison whampoa profit up 632 hong kong\s hutchison whampoa profit up 632

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

hong kong\s hutchison whampoa profit up 632 hong kong\s hutchison whampoa profit up 632

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday