By Ben Otto

CK Hutchison Holdings Ltd.'s first-half profit fell 29% amid a collapse in crude prices and disruptions to business activity caused by the Covid-19 pandemic.

The conglomerate, one of the two major Hong Kong-listed flagships of billionaire Li Ka-shing, said Thursday that net profit fell to 13.00 billion Hong Kong dollars (US$1.68 billion) from HK$18.32 billion a year earlier due largely to weak performances in its energy, retail and ports businesses.

Revenue dropped 12% to HK$189.94 billion.

The second half of the year could provide a better operating environment as economies reopen, but it "is premature to draw any clear conclusion as to the outlook for 2020," the company said.

CK Hutchison said its energy business would be pressured in a low oil-price environment, while its ports and retail divisions will be challenged to match their profitability in the second half of last year. Infrastructure and telecommunications are relatively sheltered, it added.

The company declared an interim dividend of HK$0.614 a share, down from HK$0.870 a year ago. 



  Write to Ben Otto at ben.otto@wsj.com