Economics
Billionaire Li Ka-Shing’s Main Companies Deliver Higher Profits
- CK Hutchison, CK Property report increase in earnings
- Li faces headwinds amid Brexit, falling property prices
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Billionaire Li Ka-shing’s two main companies, CK Hutchison Holdings Ltd. and Cheung Kong Property Holdings Ltd., saw higher earnings in the first half of the year, thanks to growth from the European telecommunications business and Chinese property sales.
Profit, excluding earnings from discontinued operations, rose 1.9 percent from a year earlier to HK$15.2 billion ($2 billion) at CK Hutchison, Li’s main holding company. Cheung Kong Property saw underlying profit climb 51 percent to HK$8.3 billion.