<Blue Chip Results>CHEUNG KONG (00001)'s full-yr NP soars 72% with final div HK$2.63

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CHEUNG KONG (00001)'s full-yr NP soars 72% with final div HK$2.63

2012-03-29 16:46:51

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CHEUNG KONG (00001) announces its 2011 results. Turnover climbed 29% yoy to HK$42.359 bln. Profit before properties revaluation rose 15% to HK$13.127 bln. The full-year net profit soared 72% to HK$46.055 bln with earnings per share HK$19.88. The final dividend was HK2.63. The full-year dividend, including interim dividend, amounted to HK$3.16, up 7% yoy.

Properties sales jumped 30% to HK$38.14 bln, which was mainly stemmed from the sale of residential units of two property projects completed last year – Festival City Phases 1 and 2 in Hong Kong and La Grande Ville Phase 1 in Beijing.

For the year ended 31st December, 2011, the Group’s profit before share of results of the Hutchison Whampoa Group was HK$18.068 bln, a rise of 8% over the previous year.

Looking into 2012, global market conditions are expected to continue to improve modestly, given that the Eurozone markets affected by sovereign debt problems are showing signs of stabilisation, and the U.S. overall economy is on track for gradual growth as reflected by improvements in major economic indicators, and aided by low interest rates, chairman Li Ka-shing says. (k)

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