Hutchison Whampoa Posts Higher 2014 Profit

reported a strong rise in its net profit for 2014. Hutchison Whampoa posted a net profit of 67.16 billion Hong Kong dollars (US$8.7 billion) for the year, compared to HK$31.11 billion, in the prior year. Analysts were expecting a profit of HK$46.04 billion. Its earnings-per-share rose to HK$15.75 from HK$7.30, while recurring EPS climbed to HK$7.51 from HK$7.28. Its revenue gained 2% to HK$421.47 billion versus HK$412.93 billion. Revenue for the property and hotels division fell 34% to HK$16,069 million, while the retail division's revenue climbed 6% to HK$157,397 million. Hutchison Whampoa shares fell 0.79% to close at $26.92 yesterday.