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HONG KONG : Hong Kong property giant Cheung Kong reported Thursday its net profit for the first half of 2008 had plunged 35 per cent to 12.02 billion Hong Kong dollars (1.54 US billion dollars).
The profit figure for the firm headed by tycoon Li Ka-shing was down from 18.54 billion dollars a year ago, due to a lower contribution from affiliate Hutchison Whampoa, figures showed.
Cheung Kong's profit before the contribution from telecom-to-ports conglomerate Hutchison Whampoa was 6.68 billion, up 60 percent from 4.17 billion dollars a year ago.
The contributions from Hutchison fell 63 percent to 5.34 billion dollars, from 14.37 billion dollars a year earlier.
- AFP/ir
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