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Hutchison Whampoa's 2012 net profit falls 53 pct; beats estimates
March 26, 2013 / 8:36 AM / 4 years ago

Hutchison Whampoa's 2012 net profit falls 53 pct; beats estimates

HONG KONG, March 26 (Reuters) - Hutchison Whampoa Ltd , Hong Kong tycoon Li Ka-shing’s ports-to-telecoms conglomerate, reported a 53 percent 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.

The company, whose businesses span from commercial properties in Hong Kong and China to telecommunications in Britain and energy in Canada, was forecast to report a net profit of HK$23.4 billion for 2012, according to Thomson Reuters I/B/E/S.

The company recorded a profit of HK$15.9 billion for July-December period, up from HK$9.72 billion a year ago and compared to market expectations of HK$13.39 billion. (Reporting by Donny Kwok; Editing by Jeremy Laurence)

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