CK Hutchinson announced their 2020 results, reporting a 27% slump in net profits to HKD 29.1bn ($3.8bn) while revenues fell 8% to HKD 403.8bn ($52bn). CK Hutch booked impairment charges of HKD 18.7bn ($2.4bn) and operating losses from minority-owned Husky as overall operating profits fell 15% due to store closures, low traffic and lower trade volumes. CK Asset unveiled a $2.2bn deal to acquire four European infrastructure assets – 3 UK power, natural gas and water distribution projects and 1 waste-to-energy project in the Netherlands for HKD 17bn ($2.2bn) with the issue of shares without requiring minority shareholders’ approval. CK Hutch declared a dividend of HKD 1.7/share ($0.22/share) while CK Asset declared a dividend of HKD 1.46/share ($0.19/share).
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