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

Published 2016-08-11, 05:30 a/m
© Reuters.  Hong Kong's CK Hutchison first-half profit rises 3 pct, meets estimates
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HONG KONG, Aug 11 (Reuters) - CK Hutchison Holdings Ltd 0001.HK , 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 HSE.TO .

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. month, CK Hutchison-owned Husky Energy Inc HSE.TO booked a second-quarter loss that was narrower than analysts had expected, while sister company Cheung Kong Infrastructure Holdings Ltd 1038.HK said first-half profit rose 5 percent. = 7.7556 Hong Kong dollars)

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