Hutchison H1 profit rises 23%

But uncertainty will remain a challenge in H2.

Hutchison Whampoa said its net profit for January to June rose to US$1.6 billion. After stripping out one-time gains, recurring profit was up 24% to US$1.5 billion. Revenue increased 2% to US$25.7 billion.

Hutchison said the rise in first-half profit rose was led by gains at its infrastructure and telecom divisions. It noted that profits rose even though economic uncertainty continued to affect several markets and geographies.

The company said that while uncertainty will remain a challenge for the second half of 2013, major economies are showing signs of stabilization and gradual recovery.

Earnings at Hutchison's European mobile phone business, 3 Group, improved by over a third, boosted by the purchase of mobile operator Orange Austria. Profit at its infrastructure business rose 10% on an expansion in international markets.

Income also rose at its retail division that owns 10,800 shops in 30 countries through chains including Britain's Superdrug and France's Marionnaud.

Earnings at the ports business weakened, partly because of a 40-day strike at the company's container ship berths in Hong Kong.