CK Infrastructure Holdings Interim Profit Largely in Line, FVE Lowered on Foreign Exchange Headwinds
With the strength in the U.S. dollar-pegged Hong Kong dollar against other currencies, notably the British pound and Australian dollar, we lower CK Infrastructure's, or CKI's, fair value estimate to HKD 72 from HKD 75. The weaker translated income ate into the company's first half profit, with earnings growing at 5% year over year, which otherwise would have been stronger in local currency terms. Nonetheless, there is little change to our profit forecast as we include the contribution from the A...CK Infrastructure Holdings and its subsidiaries are engaged in the development, investment and operation of infrastructure businesses in Hong Kong, Mainland China, the U.K., the Netherlands, Australia, New Zealand and Canada. Through its subsidiaries, Co. is engaged in investment holding; production and laying of asphalt; manufacturing, sale and distribution of cement and property investment; financing; treasury; and waste management servicce. Through its principal associates, Co. is engaged in investment in power and utility-related businesses, and electricity distribution.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.