"With a solid cash position and deposits of about HK$10 billion, CKI will continue to pursue new investments around the globe to further enrich and strengthen our portfolio," chairman Victor Li Tzar-kuoi said.

He said the firm is studying several new projects. During the first half, CKI bought a 50 percent stake in British firm Seabank Power, which operates a 1,140-megawatt power plant, for HK$2.4 billion. It also invested HK$700 million in new production facilities in a cement plant in Yunfu, China.

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CKI posted a three-month loss of HK$262 million from the disposal of its China power plants to subsidiary Hongkong Electric (0006). The firm booked a one-off gain of HK$1.26 billion from selling the deal in 2009.

In 2009, it had a tax credit of HK$148 million on its British business, which did not occur this year.

Net profit grew 19 percent, excluding exceptional items, with turnover surging 40 percent to HK$1.29 billion. It declared an interim dividend of 33 HK cents per share, up 3 percent year-on-year.

HKE continued to be the biggest profit contributor, accounting for 52.1 percent of the profit. Power businesses in Australia and Canada leaped 27 percent and 34 percent respectively.

The firm posted a foreign exchange loss of HK$76 million in the first six months, compared with a gain of HK$436 million a year earlier.

As at June 30, CKI had HK$11.65 billion derivative instruments to hedge currency risks, including local currency- borrowings and currency swaps.

The cash position of CKI remained strong, with HK$9.93 billion at the end of June. Shares of CKI dipped 0.86 percent to HK$28.9 yesterday.