Aug. 3, 2012 (China Knowledge) - Cheung Kong (Holdings) Ltd<0001
>, a real estate developer controlled by Hong Kong business tycoon Li Ka-shing, announced yesterday that its net profit plunged 54% YoY to HK$15.46 billion in the first half of this year, due in part to lower profit from property sales.
The developer declared an interim dividend of HK$0.53 per share, the same as last year.
Earnings contributed by Hutchison Whampoa Ltd<0013
>, 49.97%-held by Cheung Kong, reached HK$5.10 billion in the six-month period, up 12% YoY.
Excluding Hutchison's contribution, the company's profit climbed 2% YoY to HK$10.36 billion in H1.
Cheung Kong realized HK$17.72 billion in revenue in the first six months, 32% less than in the corresponding period of 2011.