CK Hutchison posted a 7% rise in 2025 underlying profit on Thursday, as the market awaits updates on the company's proposed sale of its ports business and other spin-off plans.

The Hong Kong ports-to-telecoms conglomerate reported underlying profit of HK$22.3 billion ($2.85 billion) on a post-IFRS 16 basis. That compared with an HK$22.9 billion LSEG SmartEstimate and the HK$20.8 billion booked a year earlier.

Including a one-time non-cash accounting loss, net profit fell 31% from a year earlier to HK$11.84 billion.

The conglomerate, owned by Hong Kong's richest man Li Ka-shing, has been caught up in a diplomatic to-and-fro since U.S. President Donald Trump objected to Chinese ownership of ports along the globally strategic Panama Canal.

Last year, the company agreed to the $23 billion sale of dozens of ports worldwide, including two near the Panama Canal, to a consortium led by U.S. asset manager BlackRockBLK.N and Mediterranean Shipping Company.

It later said it was in talks for the consortium to include a "major strategic investor", which sources identified as China's COSCO.

The deal was further complicated this year after Panama's government moved to unwind a concession agreement that gave control of the two terminals to CK Hutchison unit Panama Ports Company, which has since challenged the action.

Analysts said a sale would represent a significant strategy shift as ports' contribution to earnings before interest, tax, depreciation and amortisation would fall to 1% from 15%.

CK Hutchison also derives a significant portion of profit from infrastructure and telecommunications.

Separately, CK Hutchison is considering listing its telecoms business and retail unit A.S. Watson Group in London and Hong Kong as early as the second and third quarter of 2026 respectively, Reuters previously reported.

(Reuters)