CK Hutchison posts 41% YoY drop in its profit attributable to shareholders in 1H23

The group’s NPAT for the period was $11.2m.

CK Hutchison’s profit attributable to ordinary shareholders (NPAT) dropped 41% YoY to $11.2m in 1H23.

In a bourse filing, the company attributed the decline to the “principal headwinds” it faced during the first half of the year which included  “continuing relative strength of the US dollar, input cost inflation, particularly in Europe and the UK and in its energy-intensive telecom businesses,  and the lack of any one-time gains realised in the half.”

On a pre-IFRS (International Financial Reporting Standards) 16 basis, the company’s NPAT would be $11.0m, a 36% drop from 1H22.

With lower NPAT, the company’s board declared an interim dividend of $0.756 per share payable on Thursday, 14 September, to shareholders whose names appear on the Register of Members of the Company at the close of business on Tuesday, 5 September 2023.