Swire Pacific H1 Net Profit Falls 22%

Swire Pacific

reported a 22% drop in its first-half net profit. Swire Pacific's net profit for the six months declined to 6.61 billion Hong Kong dollars (US$850 million), versus HK$8.42 billion, in the year-ago period. Its underlying profit rose 48% to HK$3.30 billion from HK$2.23 billion, while revenue climbed 8% to HK$23.78 billion from HK$22.08 billion. Swire Pacific shares closed at $12.00 yesterday.