News Summary: HK's Hutchison profit halves

News Summary: Hong Kong's Hutchison earnings drop on one-off item, recurring profit grows

Associated Press

WHOA, WHAMPOA: Billionaire Li Ka-shing's Hong Kong conglomerate Hutchison Whampoa said profit last year fell by about half compared with the previous year when income was inflated by a huge one-time gain.

PORT SUPPORT: Hutchison made HK$26.1 billion ($3.7 billion) in 2012, down from HK$56 billion in 2011 after booking profit from spinning off port assets.

LI WAY: Li, Asia's richest man, is worth $31 billion, according to Forbes. The tycoon said in a statement that economic and financial uncertainty last year hit markets where Hutchison operates to "varying degrees."

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