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Cathay Pacific 2012 Net Profit Tumbles 83%

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Cathay Pacific Airways (OTC: CPCAY) reported an 83% drop in its 2012 net profit.

Cathay Pacific's net profit for the year tumbled to 916 million Hong Kong dollars (US$117.8 million), from HK$5.50 billion in 2011.

In the first half, it posted a net loss of HK$935 million. However, analysts were expecting a 2012 net profit of HK$829.7 million.

Its revenue for the year rose to HK$99.38 billion from HK$98.41 billion.

Cathay Pacific shares closed at $9.09 yesterday.

Posted-In: profitEarnings News

 

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