Ka-shing’s 2 big­gest firms post higher earn­ings

New Straits Times - - Business -

HONG KONG: Bil­lion­aire Li Kash­ing’s two big­gest com­pa­nies re­ported higher earn­ings dur­ing the first half, helped by gains from his telecom­mu­ni­ca­tions busi­ness in Europe and boom­ing home sales in Hong Kong.

Flag­ship CK Hutchi­son Hold­ings Ltd, whose busi­nesses range from phone ser­vices to re­tail and util­i­ties, re­ported on Thurs­day net in­come rose seven per cent to HK$15.9 bil­lion (US$2 bil­lion).

Mean­while, at Che­ung Kong Prop­erty Hold­ings Ltd, un­der­ly­ing profit climbed 14 per cent to HK$9.5 bil­lion.

The re­sults show Hong Kong’s rich­est man ben­e­fit­ing from a pickup in the Eu­ro­pean econ­omy and ris­ing prop­erty sales at home.

The ty­coon said he was “cau­tiously” op­ti­mistic about the fu­ture amid per­sist­ing geopo­lit­i­cal risks and re­newed un­cer­tainty on com­mod­ity prices. Bloomberg

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