CK Hutchison reports 2015 adjusted net profit of $4 billion

CK Hutchison reported adjusted net profit of HK$31.2 billion (US$4.023 billion) for 2015, beating analyst expectations, South China Morning Post reported, citing a statement to the Hong Kong Stock Exchange by the Hong Kong conglomerate’s owner, Li Ka-shing. Meanwhile, core profit at Cheung Kong Property Holdings – created last year to separately house Li’s property investments – rose 29% year on year to HK$15.57 billion in its first full-year result. Li said in a press briefing on the conglomerate’s global performance that Hong Kong’s economy was experiencing turbulence, with “property sales and retail sales [at times] worse than during the [2003] SARS epidemic.”