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CKHUY - CK Hutchison: All Eyes On Turnaround And Capital Return
CK Hutchison Holdings Ltd ADR
CK Hutchison's turnaround continued in the first half of this year, with the good performance of its Retail and Ports business divisions driving a +58% YoY increase in core earnings.
The company has done significant share buybacks in the last four months, while it also increased its interim dividend by +30% in absolute terms.
CK Hutchison trades at 0.37 times P/B and 5.6 times forward FY 2022 P/E, which seems too cheap even if one considers potential regulatory and policy risks.