CK Hutchison (0001) grew its first-half net profit by 4.3 percent to HK$19.1 billion from a year earlier and raised the interim dividend by 5 percent to 84 HK cents, but warned of rising risks from a worldwide recession.

Total revenue advanced 8.1 percent to HK$229.6 billion from the same period last year, it said in a filing yesterday.

Sales from its retail division rose 3 percent to HK$84.9 billion and those from the ports and related services division also jumped 14 percent to HK$22.7 billion.

While revenue from the infrastructure segment dipped 1 percent to HK$27.6 billion, that of CK Hutchison Group Telecom also slipped 9 percent to HK$41.8 billion.

The company still faces challenges from ongoing supply chain disruptions as well as its heavy reliance on Europe at a time when the euro and British pound are slumping against the US dollar.

That's hurting the company's bottom line as it reports earnings in the US dollar-pegged Hong Kong currency.

"Expectations for growth this year and the next have been and are being revised substantially downward, with heightened risk of recessions expected in several of the markets in which the group operates," chairman Victor Li Tzar-kuoi, Li Ka-shing's eldest son, said in the statement.

That comes as CK Asset (1113) recorded a 58 percent jump in net income for the first six months of the year to HK$12.9 billion with its interim dividend declared up 5 percent to 43 HK cents.

Its revenue also soared by 54 percent to HK$35.7 billion - property sales surged by 38 percent to HK$20.4 billion, according to a separate filing.

Li said the group will continue to identify and increase its land bank through land sales and other options to develop quality property projects locally while seeking quality infrastructure and utility assets around the world.

He said there is a strong demand for residential properties in Hong Kong even if the borrowing costs increase, but also warned that homebuyers should ensure their financial situation is within their means before getting into the market.

Shares of CK Hutchison were up 0.9 percent yesterday ahead of the results, while CK Asset gained 0.4 percent.

Victor Li takes questions at an analysts meeting.

CKH net rises 4pc to $19b but warns of recession