,HONG KONG, March 18 - CK Hutchison Holdings Ltd, the ports-to-telecoms arm of retired billionaire LiKa-shing, reported a 27% fall in 2020 net profit on Thursday,weighed down by sharp drops in oil, gas and fuel prices as thecoronavirus pandemic smashed demand. The bottom line also suffered from asset impairmentsrecognised by its Canadian oil and gas producing arm HuskyEnergy, which it sold late in the year. Profit last year was HK$29.1 billion ($3.75 billion),compared with HK$39.8 billion a year earlier, after accountingadjustments. The board recommended a final dividend of HK$1.7 per share,compared to HK$2.3 in the previous year. Chairman Victor Li said in a statement he expected thegroup’s debt to net total capital ratio to be further reduced in2021 from 22.2% in 2020, following the completion of variousdeals. Sister company CK Asset, a major propertydeveloper in Hong Kong which also has interests in aircraftleasing, infrastructure and utility assets overseas, said itsunderlying profit during the period dropped 32.5% to HK$19.4billion, dragged by hotel, aircraft leasing and UK's Greene Kingpub businesses. Shares of CK Hutchison ended up 1.4% on Thursday ahead ofthe results, while CK Asset climbed 2.5%. The Hang Seng Indexrose 1.3%. REUTERS
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