Hutchison Whampoa’s 2012 net profit down 53pc

Hutchison Whampoa, Hong Kong tycoon Li Ka-shing’s ports-to-telecoms conglomerate, reported a 53 per cent fall in 2012 net profit on Tuesday, but the result still beat market expectations.

Hutchison’s full-year net profit totalled HK$26.1 billion, down from HK$56.02 billion a year earlier when it had booked a hefty one-off gain after spinning off its port assets, it said in a filing to the Hong Kong stock exchange.

via Business feed http://www.scmp.com/business/companies/article/1200239/hutchison-whampoas-2012-net-profit-down-53pc