Net profit sags at Cheung Kong, Hutchinson Whampoa: provisions on share, real-estate investments crimp earnings; are Hong Kong stocks too high?
Article Abstract:
The Hong Kong stock market took a wake-up call as two of its better performers, Cheung Kong(Holdings)Ltd. and Hutchinson Whampoa Ltd. reported declines in share earnings. Cheung Kong shares rose by only 25 cents while Hutchinson shares rose only by HGK$1 in the March 27,1997 trading activity. This is due to the reported decrease in expected profits for 1997 for both companies, which amounts to HK$3.68 bil. While both Hutchinson and Cheung Kong's profits rose 20% and 28% respectively, both are below the 23% and 43% profit expectations from the companies.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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In Hong Kong's red-chip market, 2 stocks stand out
Article Abstract:
Chinese-owned ('red-chip') companies are doing extremely well in Hong Kong's stock market, with their stock prices increasing by as much as 60%, but securities analysts predict that only a few of these companies will do well in 1997. Two favored red-chip companies, the construction firm China Overseas Land & Investments and food and the grocer Ng Fung Hong, are projected to do well due to their solid management and the growth of their business sector. China Overseas' stock is trading at 13.1 times above its 1997 projected earnings.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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