CK Infrastructure Holdings Ltd
01038: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$48.00 | Jxsb | Mwcwfbsb |
CKI and Power Assets Results Slightly Shy of Forecast; Focus on Possible UKPN Sale
For CK Infrastructure Holdings, or CKI, and its associate Power Assets Holdings, or PAH, 2021 results were slightly shy of our expectations. CKI’s recurring net profit of HKD 9.1 billion was around 5% below our estimate due mainly to higher costs. We have tweaked our estimates but changes are minimal. We expect the upcoming April inflation adjustments to its regulated asset values, or RAVs, to buffer inflation impact.