Swire Pacific Posts 16% Decline In 2011 Net Profit

Swire Pacific Ltd SWRAF reported a 16% drop in its 2011 net profit. Swire Pacific's net profit for the year fell to HK$32.21 billion, versus HK$38.25 billion, in the year-ago period. Its underlying profit climbed 7.1% to HK$17.29 billion from HK$16.14 billion. Swire Pacific's revenue surged 24% to HK$36.29 billion from HK$29.20 billion. Attributable profit of aviation operations dropped to HK$3 billion versus HK$8.90 billion. Attributable profit of beverage division fell 16% to HK$588 million. Swire Pacific recommended a final dividend of HK$2.35 per A share, versus HK$2.50 in the earlier year.