Hutchison Whampoa's H1 underlying profit up 13 pct, beats f'casts

HONG KONG, July 31 Thu Jul 31, 2014 4:45am EDT

HONG KONG, July 31 (Reuters) - Hutchison Whampoa Ltd , a retail-to-telecoms group owned by Asia's richest man Li Ka-shing, posted a 13 percent rise in first-half underlying profit, beating analyst estimates, thanks to its growing European telecom and retail businesses.

Excluding exceptional items and property valuations, Hutchison's underlying profit totalled HK$13.52 billion ($1.74 billion) for January-June, up from HK$12.01 billion a year earlier, it said in a statement on the Hong Kong stock exchange on Thursday.

The result was slightly higher than the average forecast for an underlying profit of HK$13 billion, according to an average forecast by five analysts.

Including profits from the disposal of investments and property revaluation, profit attributable to shareholders jumped 129 percent to HK$28.44 billion from HK$12.398 billion a year earlier. ($1 = 7.7496 Hong Kong Dollars) (Reporting By Yimou Lee; Editing by Anne Marie Roantree and Ryan Woo)

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