Antara News : Cathay Pacific swings to US$605 mln profit for 2009

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Hong Kong (ANTARA News/Asia Pulse) - Hong Kong's Cathay Pacific Group has announced an attributable profit of HK$4,694 million (US$605 million) in 2009 despite what it termed "extremely challenging business conditions", compared to a loss of HK$8,696 million the previous year.

Turnover in 2009 fell by 22.6 per cent to HK$66,978 million while earnings per share rose by HK340.3 cents to HK119.3 cents, Cathay Pacific said in a statement.

However, excluding fuel hedging gains of HK$2,758 million, a one-off item of HK$1,254 million resulting from the sale of HAECO shares, and the contribution from subsidiaries and associates, Cathay Pacific made an operating profit of HK$285 million from its core airline business compared with a loss of HK$1,440 million in 2008.

Source:
Business in Asia Today - March.11, 2010
published by Asia Pulse

Editor: Ricka
COPYRIGHT © 2012

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