Swire Pacific A & B (0019) (0087) swung to a net loss of nearly HK$11 billion last year due to loss from Cathay Pacific Airways (0293) and a significant reduction in profits on the sale of investment properties. The group recorded an underlying loss for the year of HK$3.97 million, compared with an underlying profit of HK$17.8 billion in 2019. Swire A declared a dividend of HK$1 while Swire B declared a dividend of 20 HK cents. Swire Properties (1972) net profit tumbled by 69.5 percent year-on-year to HK$4.1 billion. The core profit fell by 47 percent to HK$12.86 billion, attributed to the reduction in profits on the sale of investment properties and decrease in the rent of retail properties.

Source: The Standard March 11, 2021 06:22 UTC