Swire gains after Cathay boost
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Swire Pacific Ltd, the owner of Cathay Pacific Airways, posted an 18% rise in first-half profit as the airline returned to the black. According to a Bloomberg report, Swire’s profit hit HK$3.8 billion (US$490 million), on the back of Cathay’s HK$812 million first-half gains. Swire’s property earnings however, plunged 88% to HK$1.28 billion as it posted a net HK$53 million revaluation loss, from a HK$8.09 billion gain last year.
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