Cheung Kong 2H net quadruples, beats forecasts

HONG KONG: Cheung Kong (Holdings), billionaire Li Ka-shing's flagship real estate conglomerate, more than quadrupled its second-half net profit on strong sales as the economy recovered and on higher contributions from associate Hutchison Whampoa.

Asia's second-biggest property company by market value after Sun Hung Kai Properties, posted July-December profit of HK$8.4 billion (RM3.54 billion) versus a restated profit of HK$2.06 billion a year earlier. Analysts had forecast HK$6 billion profit, according to Thomson Reuters I/B/E/S. -- Reuters
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