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Cheryl Arcibal

CK Hutchison Holdings, one of the flagship companies owned by Hong Kong billionaire Li Ka-shing’s family, reported a 3,046 per cent increase in its first-half profit amid a period the firm’s chairman called “turbulent and uncertain”.
Meanwhile, CK Asset Holdings, the group’s other flagship company that focuses on residential and commercial property, registered a 37.8 per cent jump in net profit during the same period.
CK Hutchison, the port-to-telecoms conglomerate, said on Thursday that its profit attributable to shareholders for the six months ended June was HK$26.8 billion (US$3.4 billion), dwarfing the HK$852 million reported a year earlier.
The surge was driven primarily by HK$14.2 billion in one-time items. It recognised gains of HK$17.75 billion from the disposal of its interests in UK Rails and UK Power Networks. In addition, it also had a HK$2.2 billion non-cash write-off of the acquisition premium allocated to certain infrastructure assets.
Underlying profit, excluding one-off items and the earnings impact from the disposal of UK telecoms assets, rose 7 per cent to HK$12.58 billion. Revenue was HK$255.4 billion, up from HK$240.7 billion a year ago.
“The global environment in the first half of 2026 was exceptionally turbulent and uncertain,” said chairman Victor Li Tzar-kuoi in the earnings statement.
“The group will also maintain its disciplined capital allocation to support its strong financial and liquidity profile”, he said, adding that the operating environment for the rest of 2026 was expected to remain challenging.
In May, the company announced it would sell its remaining 49 per cent interest in UK telecoms provider VodafoneThree for £4.3 billion (US$5.8 billion). The transaction was completed on July 30, with the gain on disposal of around HK$5.9 billion and cash consideration to be recognised in the second half of the year.
An interim dividend of 74.55 HK cents per share was announced, up from 71 HK cents a year earlier.
Revenue at its ports and related services amounted to HK$24.52 billion, 4 per cent higher than the year before. The division found the significant disruptions in the Strait of Hormuz following US and Israeli military strikes on Iran to be “slightly favourable” for its Middle East segment, as the halt in quayside activities at ports in the UAE was more than offset by additional ad hoc transshipment volumes at the Sohar Industrial Port in Oman.
“Looking into the second half, the Middle East situation remains highly unpredictable and trade tensions, including the reintroduction of tariffs by the US administration, will continue to affect global trade,” the company said in its filing with the Hong Kong stock exchange.
“Front-loaded cargoes in response to expected tariff increases will add pressure to sustained volume growth. However, with the division’s geographically diversified portfolio, favourable mix of operations in gateway and transshipment ports, and continued focus on productivity and cost efficiencies, the division expects to achieve earnings growth in 2026 as a whole.”
The conglomerate’s retail business, which runs health and beauty retailer AS Watson Group and supermarket chain ParknShop, recorded revenue of HK$107.73 billion, boosted by comparable-store sales growth of 3.6 per cent along with enhanced productivity and margin management, the company said.
Meanwhile, CK Infrastructure Holdings announced net profit attributable to shareholders of HK$21.25 billion, up 389 per cent on gains from disposals of UK assets. CK Hutchison controls 75.67 per cent of the unit.
Underlying revenue at CK Hutchison Group Telecom Holdings rose 7 per cent to HK$32.77 billion, while 3Group Europe’s revenue slipped 1 per cent to HK$29.04 billion.

Meanwhile, CK Asset, the commercial and residential developer, said its unaudited profit attributable to shareholders rose by about 38 per cent to HK$8.68 billion, while underlying profit climbed by about 5 per cent to HK$6.64 billion. The developer and commercial landlord declared an interim dividend of 41 HK cents per share to be paid on September 24.
The group noted that the residential property market in Hong Kong “continued to stabilise during the first half of 2026” as low mortgage interest rates and improving market sentiment boosted transaction volumes and prices.
Meanwhile, its office leasing segment also saw improvement, with activity at its Cheung Kong Center II increasing during the period.
For the rest of the year, Li said, the group would take note of “regional conflicts and inflationary pressures” that would continue to affect trade, adding economic growth was likely to moderate.
CK Asset is expected to launch presales of its Victoria Blossom development in Kai Tak in the second half of the year. The first two phases of the project have more than 720 units. The developer also said it had obtained consent for presales at two other projects in Yuen Long.


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Global environment in the first half of 2026 was ‘exceptionally turbulent and uncertain’, says chairman Victor Li Tzar-kuoi


Global environment in the first half of 2026 was ‘exceptionally turbulent and uncertain’, says chairman Victor Li Tzar-kuoi.


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

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Global environment in the first half of 2026 was ‘exceptionally turbulent and uncertain’, says chairman Victor Li Tzar-kuoi

Global environment in the first half of 2026 was ‘exceptionally turbulent and uncertain’, says chairman Victor Li Tzar-kuoi