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CK Hutchison Holdings' H1 Profit Surges 6,000% on Asset Disposal Gains

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CK Hutchison Holdings' (HKG:0001) reported profit attributable to ordinary shareholder surged 5,988% to HK$26.8 billion in the first half from HK$852 million in the year-ago period, according to a Thursday filing with the Hong Kong bourse.

Earnings per share at the conglomerate increased to HK$7 from HK$0.22 in the prior-year period.

Revenue grew 6% year over year to HK$255.4 billion from HK$240.7 billion.

CK Hutchison recognized HK$17.8 billion in gains from the sale of its interests in its UK rails and power networks businesses, as well as a HK$2.22 billion non-cash write-off of the acquisition premium allocated to certain infrastructure assets.

The conglomerate declared a dividend of HK$0.7455, payable Sept. 24 to shareholders on record as of Sept. 15.

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CK Hutchison Holdings' H1 Profit Surges 6,000% on Asset Disposal Gains | FINWIRES