CK Asset profit rises $8.35b in H1

This is up from $6.36b in the same period last year.

CK Asset Holdings Limited reported its profit rose to $8.35b in the first half (H1) of the year from $6.36b in the same period in 2020.

The group’s revenue dropped to $34.3b in H1 2021 from $36.32b in the previous year; whilst its expenses also declined to $14.73b from $19.77b.

The group’s property sales segment generated some $14.78b in revenue, largely from the sale of various projects in the Mainland.

Revenue from property rental and aircraft leasing slipped slightly to $3.35b from $3.45b and to $1.25b from $1.52b, respectively; whilst its hotel and service suite operation, and property and project management both increased to $1.19b and $432m, respectively.

CK Asset also reported that it remains financially strong with ample cash on hand as it completed the acquisition of shares in UK Power Networks, Northumbrian Water, Wales & West Utilities, and Dutch Enviro Energy from Li Ka Shing Foundation Limited.

The group also completed the $19.38b share buy-back proposal and bought back 380 million shares

“The four infrastructure assets provide an additional recurrent income stream and cash contributions to the group, while the share buy-back allowed the group to offset the dilution impact of issuing the consideration shares, and provided an opportunity for existing shareholders to realise their investment at a premium to market price,” CK Asset said.

It also declared an interim dividend of $0.41 per share, which will be paid on 16 September.