HK billionaire's Hutchison says first-half profit rises
HONG KONG (AP) - Hong Kong billionaire Li Ka Shing's sprawling global conglomerate, Hutchison Whampoa, says first-half profit rose nearly a quarter, led by gains at its infrastructure and telecom divisions.
Hutchison on Thursday said net profit for January-June rose 23 per cent from a year earlier to HK$12.4 billion (S$2 billion).
After stripping out one-time gains, recurring profit was up 24 per cent to HK$12 billion.
The 85-year-old Li is Asia's richest man, with a fortune estimated by Forbes at US$31 billion (S$39 billion). His flagship company employs a quarter million people in 52 countries.