CK Hutchison posts 10% profit growth in 2022

Its profit attributable to ordinary shareholders stood at HK$36.6b. 

CK Hutchison reported its net profit attributable to ordinary shareholders climbed by 10% year-on-year to HK$36.68b. 

This included a net gain attributable to shareholders of HK$10.9b from one-time items, representing a HK$6b increase from one-time items in 2021. 

“In 2022, most of the world outside of Mainland China and Hong Kong put the COVID pandemic 

behind and resumed a path to normality. This had attendant positive impacts on growth in many countries and sectors in which the Group conducts business,” Victor T K Li, Chairman, said in a statement.

Read more: CK Hutchison profit climbs 4% in H1 2022

“However, rapidly strengthening demand, tight labour markets and supply chain constraints as economies rapidly opened, together with the conflict in Ukraine resulted in strong inflationary pressures that have led to robust monetary responses and the steepest and fastest rises in rates in over 40 years.”

Over the same period, the company reported a 3% revenue growth to HK$457.22b, largely accounted for by its retail business (37%).

This is despite its retail segment recording a 2% decline to HK$169.64b in revenue in 2022.