Swire Pacific Soars to Record Profit on Strong Asian Investments

Swire Pacific, a Hong Kong-based conglomerate behind Cathay Pacific Airways, Swire Properties, and Swire Coca-Cola, has reported a record first-half profit. The company's recurring underlying profit reached HK$6.96 billion (US$887 million), up 48% year on year.

The profit increase is attributed to the group's solid performance across its core markets in the Chinese mainland, Hong Kong, and Southeast Asia. Cathay Group, which operates several airlines including Cathay Pacific, saw its first-half profit reach HK$2.83 billion, a 72% year-on-year increase.

Guy Bradley, chairman of Swire Pacific, expressed confidence in the company's outlook for the remainder of the year, stating that 'there is plenty of money going out into investing for the future.'

The group has committed HK$150 billion to investments in its fleet, cabin and lounge products, and digital innovation. Additionally, Swire Properties invested HK$100 billion, while Swire Coca-Cola invested 12 billion yuan (US$1.8 billion) in the region.