Profit at Cheung Kong falls 30pc

Cheung Kong (Holdings) has announced a 30.19 per cent drop in net profit for last year to HK$32.15 billion as a result of lower contributed earnings from Hutchison Whampoa.

Profit excluding Hutchison's attributable earnings and investment property valuation rose 8 per cent to HK$14.21 billion, slightly better than analysts' expectations. Turnover fell 26.57 per cent to HK$31.11 billion.

Chairman Li Ka-shing said overall market conditions will continue to be affected by external economic factors and local property policies.

via Business feed http://www.scmp.com/business/companies/article/1200618/profit-cheung-kong-falls-30pc