CK Hutchison Profit Rises as Global Assets Offset Covid Woes
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CK Hutchison Holdings Ltd.’s profit rose about 10% in 2022, topping analyst estimates, as a diversified global portfolio and major deals helped the conglomerate founded by billionaire Li Ka-shing weather headwinds including China’s Covid lockdowns, a downturn in Europe and currency fluctuations.
The flagship company of Li’s CK Group, now led by his eldest son Victor Li, reported net income of HK$36.68 billion ($4.67 billion) for the 12 months through December, it said in a statement Thursday. Total revenue climbed 2.7% to HK$457 billion. The company announced a full-year dividend of HK$2.9 per share, a 10% increase from the year before.