Operations fit as Li flagships take profit hit

Property developers Cheung Kong and Hutchison Whampoa will report sharply lower profits for 2012 when they unveil their annual results tomorrow.

Cheung Kong's bottom line for the year is likely to be between HK$22 billion and HK$26 billion, according to analysts' estimates, versus a net profit of HK$46 billion in 2011.

Hutchison is expected to report net profit of between HK$21 billion and HK$25 billion, given the absence of a sizeable disposal gain to boost its 2012 result.

via Business feed http://www.scmp.com/business/companies/article/1199074/operations-fit-li-flagships-take-profit-hit