CK Hutchison Holdings reports 31-fold surge in first-half profit

CK Hutchison Holdings, a Hong Kong-based conglomerate owned by Li Ka-shing's family, announced a staggering 3,046% increase in its first-half profit, reaching HK$26.8 billion (US$3.4 billion) for the period ending June. The massive surge was primarily attributed to a HK$14.2 billion gain from one-time items, including HK$17.75 billion in profits from selling its UK-based rail and power networks, along with a HK$2.2 billion non-cash write-off of acquisition premiums for certain infrastructure assets. Underlying profit, excluding one-off items, rose 7% to HK$12.58 billion.

Chairman Victor Li Tzar-kuoi acknowledged the global environment as "exceptionally turbulent and uncertain" in the first half of 2026, and the company will continue to maintain disciplined capital allocation to support its robust financial standing. The company also announced plans to sell its remaining 49% stake in UK telecoms provider VodafoneThree for £4.3 billion (US$5.8 billion), with the gain on disposal expected to be recognized in the second half of the year. An interim dividend of 74.55 HK cents per share was declared, up from 71 HK cents previously.

CK Asset Holdings, the group's residential and commercial property arm, reported a 37.8% jump in net profit to HK$8.68 billion, with underlying profit increasing by 5% to HK$6.64 billion. The residential property market in Hong Kong remained stable during the period, driven by low mortgage interest rates and improving market sentiment.

The office leasing segment also showed improvement with increased activity at CK Asset's Cheung Kong Center II. Despite regional conflicts and inflationary pressures anticipated for the rest of the year, group CEO Li Li Ka-shing expressed confidence in the group's ability to navigate the challenging economic landscape.