Swire Pacific H1 Net Profit Down 65%

Swire Pacific Ltd SWRAY reported a 65% drop in its first-half net profit. Swire Pacific's net profit for the period declined to 8.44 billion Hong Kong dollars (US$1.09 billion), versus HK$23.95 billion, in the year-ago period. Its underlying profit declined 51% to HK$2.26 billion, from HK$4.60 billion. Swire Pacific's revenue jumped 14% to HK$19.39 billion, versus HK$17.08 billion. Swire Pacific shares closed at $12.40 yesterday.