CK Hutchison Shares Fall as Weak Profit Spurs Growth Worries
- Inflation, energy price volatility, geopolitics hurt earnings
- This year is ‘fraught’ with uncertainties amid uneven risks
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CK Hutchison Holdings Ltd.’s. shares fell the most in more than two months after the company reported its steepest drop in profit since 2015 and struck a cautious tone for the year ahead.
Shares fell as much as 3.2% in early trading, the biggest intraday drop since Jan. 17. A day earlier, the company, founded by Hong Kong billionaire Li Ka-shing, reported net income of HK$23.5 billion ($3 billion), down 36% from a year earlier though broadly in line with expectations.