Hutchison Profit Beats Estimates on 3G Turnaround, Port

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. said annual net income rose 47 percent, beating estimates, as earnings from ports and property surged and the high-speed mobile phone business achieved its first profit.

Net income gained to a three-year high of HK$20 billion ($2.6 billion), compared with a restated HK$13.6 billion, which included a one-time gain of HK$7.9 billion, the Hong Kong-based company said today. The profit exceeded the HK$16.4 billion average of nine analysts’ estimates compiled by Bloomberg.