Swire Pacific, one of Asia’s largest conglomerates, saw underlying profit plunged 67 per cent in the first half as gains in investment property sales failed to offset losses from Cathay Pacific Airways and its marine services business.
Excluding revaluation gains on investment properties, the underlying profit was HK$1.27 billion (US$161 million) in the six months to June, it said in a filing to the Hong Kong stock exchange on Thursday.
The group, whose business empire spans…
Source : South China Morning Post
Read more…Swire Pacific first-half profit dives 67 per cent, hurt by Cathay Pacific and marine services losses
