Li Ka-shing’s CK Hutchison Sees First Profit Drop Since 2015
- Net income fell 27% to almost $4 billion, revenue slipped too
- Expects “solid” performance in 2021 after asset sales: filing
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CK Hutchison Holdings Ltd. posted its first annual profit decline since 2015, as the flagship firm of Hong Kong billionaire Li Ka-shing got battered by the coronavirus pandemic.
It reported a 27% fall in net income of HK$29.1 billion ($3.8 billion), compared with HK$39.8 billion in 2019, according to an exchange filing Thursday. The profit was in line with the average analyst estimate of HK$29.4 billion. Total revenue fell 8% to HK$403.85 billion.