Cheung Kong Infrastructure posts 30% rise in profit

Cheung Kong Infrastructure Holdings Ltd<1038> (CKI), a roads and utility company controlled by Hong Kong business giant Li Ka-shing, saw a 30% rise in profits last year on strong contributions from its overseas operations, the company said in its earnings report on Monday.

Net profit in the period stood at HK$4.8 billion, up from HK$3.7 billion in 2006, but below analysts' forecasts of HK$5.1 billion.

Nearly half of its earnings were derived from a stake in Hong Kong Electric Holdings, in which CKI owns 39% stakes.

Profit contribution from CKI's infrastructure investments in China reached HK$1.6 billion, up 78% from a year earlier.

The company recommended a final dividend of HK$0.83 a share, bringing total dividend to HK$1.1, up 10% from a year earlier, booking 11th straight yearly growth.