Swire Group, whose activities span property, aviation, beverages, marine services, and trading and industrial, is a Hong Kong conglomerate. It is the parent of Hong Kong carrier, Cathay Pacific Airways, and Dragonair, and Hong Kong Aircraft Engineering Co (Haeco) is a subsidiary. Swire Pacific and Swire Properties are the main listed arms of the group, which also owns Swire Hotels.
Swire Pacific says profit slumps, mainly due to Cathay
Hong Kong conglomerate Swire Pacific said net profit fell 46 per cent to HK$17.5 billion in 2012, blaming a sharply reduced contribution from Cathay Pacific Airways.
On Wednesday, Cathay Pacific said net full-year profit fell 83 per cent reported net profit of HK$916 million. Swire Pacific is a substantial shareholder in Cathay Pacific.