Hutchison Whampoa Limited profit up 38 pct in 2004

Hutchison Whampoa Limited, the Hong Kong based international corporation, Thursday reported a net profit of 16.128 billion Hong Kong dollars (2.07 billion US dollars) in 2004, a 38 percent increase compared to 2003.

Hutchison Whampoa Limited announced its audited results for the year ended Dec. 31, 2004 Thursday. The revenue for the company rose to 179.4 billion Hong Kong dollars (23 billion US dollars), a 23 percent increase compared to 2003. It proposed a final dividend of 1.22 Hong Kong dollars a share.

The company's net loss from its Third-generation (3G) operations hit 25.32 billion Hong Kong dollars (3.25 billion US dollars) in 2004.

The company's chairman, Li Ka-shing, said at a press conference that he believed the company's 3G operations will narrow losses this year and the company might raise cash by listing its Italian 3G operations this year.

According to the company, the company currently has about 8 million 3G subscribers, up from 5.9 million in mid-December.

Source: Xinhua