2023 CK Hutchison Holdings profit dropped 36% due to global trade slowdown, inflation, and weak Chinese consumer sentiment.
CK Hutchison Holdings reported a 36% drop in 2023 profit, its largest decline since 2015, due to sluggish global trade, rising inflation, and weak consumer sentiment in China affecting its diverse operations from ports to telecom and retail. Net income fell to HK$23.5 billion, with revenue up slightly to HK$462 billion. The company, founded by Hong Kong billionaire Li Ka-shing, cut its full-year dividend by 14% to HK$2.53 per share.
March 21, 2024
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