Pursuits
Hutchison Profit Exceeds Estimates on U.K., China Investments
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Hutchison Whampoa Ltd., billionaire Li Ka-shing’s biggest company, posted first-half profit that beat analysts’ estimates after boosting earnings from U.K. utilities, phone services in Europe and retail stores in China.
Net income was HK$10.2 billion ($1.3 billion), or HK$2.39 a share, the Hong Kong-based company said yesterday. That beat the HK$9.55 billion median of five analysts’ estimates in a Bloomberg News survey. Profit fell from HK$46.3 billion a year earlier, when Hutchison booked one-time gains from a spinoff of ports assets in Hong Kong and China.