Husky Energy Inc., a Canadian oil company controlled by Hong Kong billionaire Li Ka-shing, said second-quarter earnings declined 12 percent.
Net income fell to C$263 million ($166 million), or 64 cents a share, from C$299 million, or 73 cents, a year earlier. Revenue fell 4.2 percent to C$1.66 billion from C$1.73 billion, the company said in a statement issued by Canada Newswire.
Shares of Calgary-based Husky rose 42 cents to C$15.50 in Toronto yesterday. Li holds about two-thirds of the company's stock through Hutchison Whampoa Ltd. and family holdings.