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HONG KONG: Hong Kong port-to-telecoms conglomerate Hutchison Whampoa, controlled by tycoon Li Ka-shing, on Thursday reported a 53 per cent increase in net profits, slightly below analyst expectations.
Hutchison said net profit for 2007 stood at HK$30.6 billion (US$3.93 billion) compared to HK$20.0 billion a year earlier.
Analysts had expected a net profit of HK$32.8 billion.
The company's troubled third generation (3G) mobile business, which has dragged down profits in past few years, saw revenues increase 18 per cent to HK$59.9 billion, Hutchison said in a statement.
The company has holdings in ports, retail, property, energy, infrastructure and telecoms across the world, and was one of the first to introduce 3G mobile services.
Overall revenues across the group increased 15 per cent to HK$308.8 billion, the statement added. - AFP/ac
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