Li Family's CK Hutchison And CK Asset Report Jump In Profits [Forbes]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Forbes
Li Family's CK Hutchison And CK Asset Report Jump In Profits Victor Li speaks during a news conference in Hong Kong on March 16, 2018. Anthony Kwan/Bloomberg The flagship companies controlled by Hong Kong’s second-wealthiest family reported first-half earnings on Thursday that were in line with expectations. CK Hutchison CK Asset Chairman Victor Li said currency and commodity price volatility since the second half of 2018 had dampened the CK Hutchison’s profitability during the first half of the year. CK Hutchison’s operations range from ports to infrastructure, energy, telecommunications and retail. It was founded by Victor’s father, Li Ka-shing Total revenue for CK Hutchison for the period was down 3.3% to HK$217 billion, most of which comes from its operations outside of Hong Kong. European markets contributed 48% of the conglomerate’s overall sales, followed by Asia at 15% and Canada with 11%. Property developer CK Asset said its revenue jumped 41% to HK$34 billion, although its n
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