04 Aug '11, 12pm

HK's Hutchison Whampoa's profit up 632%

HK's Hutchison Whampoa's profit up 632%

HONG KONG - Hong Kong's Hutchison Whampoa, controlled by the city's richest man Li Ka-shing, on Thursday said its half-year profit soared more than six-fold, largely driven by an asset sale. The ports-to-telecoms conglomerate said it booked a net profit of HK$46.29 billion (US$5.93 billion) in the first half of 2011, a whopping 632 percent rise over the HK$6.32 billion profit it earned during the same period last year. Hutchison's revenue increased by a more modest 26 percent to HK$187.35 billion during the same period, it said. The firm's results included a gain of HK$44.3 billion from spinning off a ports unit in Singapore earlier this year. Excluding the sale of Hutchison Port Holdings, its parent said its net profit would have risen 44 percent over last year to HK$9.11 billion. Hutchison announced its results after markets closed in the southern Chinese financial hub w...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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Loewe HK Reopens in Harbour City

Loewe HK Reopens in Harbour City

luxury-insider.com 08 Aug '11, 1am

To celebrate the refurbished Loewe boutique in Harbour City, a ribbon cutting ceremony was held on July 27. President of L...