Brief
Swire Pacific pledges continued GBA investment despite profit drop

Hong Kong conglomerate Swire Pacific reported yesterday that underlying firsthalf profit slipped 2 % to HKD5.5 bn ($700 m), while consolidated profit fell 79 % because of fairvalue losses on investment properties. Chairman Guy Bradley said weak consumer sentiment and property losses make the outlook uncertain, but the group remains committed to investing in Hong Kong and the Greater Bay Area, seeing “exciting opportunities” there. Swire Properties’ recurring profit fell 2 % due to lower office rents, although its capitalrecycling strategy boosted halfyear profit by 17 %.
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