Li Ka-Shing Flagship Reports First Profit Since Reorganization

CK Hutchison Holdings Ltd., billionaire Li Ka-shing’s flagship company, reported its first earnings since the tycoon reorganized the ports-to-retail conglomerate.

Net income was HK$101.9 billion ($13.1 billion ) during the first six months of the year, CK Hutchison said in statement on Tuesday. The company also announced an interim dividend of HK$0.70 a share.

Li merged his Cheung Kong and Hutchison Whampoa units earlier this year, reorganizing a business empire that spans across more than 50 countries, as the octogenarian prepares to hand over the reins to 51-year-old son Victor. CK Hutchison has also announced at least $40 billion in mergers related to its telecommunications businesses.

CK Hutch shares rose 3.8 percent to close at HK$102.30 in Hong Kong before announcing its results.

— With assistance by Clement Tan

Before it's here, it's on the Bloomberg Terminal. LEARN MORE