CK Hutchison's Profit Drops as Inflation Rises, Trade Slows [BNN Bloomberg (Canada)]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
NASDAQ:AMEX Investor Relations:
ckh.com.hk/en/ir
Company Research
Source: BNN Bloomberg
growth and heightened geopolitical risks weigh on the conglomerate's global operations. The company, founded by Hong Kong billionaire Li Ka-shing, reported net income of HK$23.5 billion ($3 billion), down 36% from a year earlier though broadly in line with expectations. Revenue rose to HK$462 billion from HK$457 billion a year earlier, it said in a statement Thursday. It cut its full-year dividend by 14% to HK$2.53 per share. CK Hutchison, now led by Victor Li, said profit fell on mixed conditions across its ports to telecommunications and retail empire. While the US showed continued resilience, conditions in Europe, Hong Kong, and mainland China were challenging. That included persistently elevated inflation in major Western markets, energy price volatility and escalating geopolitical risks. While conditions have shown signs of picking up, including an easing in inflation in the second half and improvement in trade flows, “2024 remains fraught with uncertainties,” the company s
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