Hutchison profit beats forecasts as 3G recovers

HONG KONG, March 29 (Reuters) – Hutchison Whampoa Ltd
, billionaire Li Ka-shing’s ports-to-telecoms flagship
company, beat expectations with a 47 percent rise in 2010
earnings, driven in part by a turnaround in its 3G telecom

Hutchison, whose businesses include third-generation network
operator 3 Group and Watsons retail stores, reported a net
profit of HK$20.04 billion ($2.58 billion) for 2010.

This was 47 percent higher than the restated profit of
HK$13.63 billion for 2009, and HK$16.03 billion analysts had
forecast for 2010.

Hutchison shares have risen about 13 percent this
year, outperforming a 0.24 percent gain in the benchmark Hang
Seng Index .

(Reporting by Donny Kwok; Editing by Charlie Zhu)

Hutchison profit beats forecasts as 3G recovers