Hong Kong tycoon Li’s flagship posts H1 profit

HONG KONG: Hong Kong billionaire Li Ka-shing’s flagship CK Hutchison Holdings posted a net profit of over $13 billion in the first half of the year, in its first earnings report since a sweeping reshuffle of Li’s business empire.

The firm, which controls assets in telecoms, utilities, ports and other industries in over 50 countries, reported a net profit of HK$101.86 billion ($13.14 billion) for the six-month period, while revenue stood at HK$117.25 billion.