CK Life Sciences International (Holdings), the biotechnology arm of property developer Cheung Kong (Holdings), said third-quarter earnings surged 270 per cent, fuelled by two newly acquired health product units but was slower than the 350 per cent growth in profit in the first half.
Net profit for second board-listed CK Life was HK$18.5 million or 0.19 HK cents per share for the three months to the end of September, up from HK$5 million or 0.07 HK cents per share a year ago.
Revenue grew 126 per cent to HK$580 million in the third quarter compared with HK$256 million a year earlier. The company will not pay a dividend for the third quarter, the same as last year.
While investment gain was the main profit driver for the company in recent years, CK Life said growth in revenue and profit in the year's first nine months was driven by sales of health products after a couple of major purchases.
Last year it bought Sante Naturelle, Canada's fifth-largest seller of natural health products, for HK$347 million. The company also spent HK$1.29 billion to buy 80 per cent of US-based nutritional supplement maker Vitaquest International Holdings in February.
A decrease in investment has led to slower earnings growth in the third quarter compared with the first half. Investment income was HK$21.7 million in the third quarter, down from HK$34.2 million recorded in the second quarter.
