Strong Underlying Profit in Property Division
The Property division reported strong underlying profit, bolstered by the successful disposal of retail and land in Miami. The division is 67% committed to a HKD 100 billion investment plan, with 7 major projects under construction in the Chinese Mainland.
Successful Sales of Residential Properties
Swire Properties successfully sold two batches of residential properties in Lujiazui Taikoo Yuan, Shanghai. The first-time brand presence in the Chinese Mainland market was well-received, with properties selling out within an hour.
Aviation Sector Performance
The Aviation sector, including Cathay and HAECO, performed well with HAECO achieving a 40% growth in recurring profit. Cathay Pacific's passenger revenue increased by 14% and ASK by 26%.
Investment in Beverages and New Facilities
Swire Coca-Cola continues to invest in new production capacity with facilities under construction in the Chinese Mainland and a new plant inaugurated in Vietnam.
Positive EBITDA Growth in Chinese Mainland Beverages
EBITDA growth in the Chinese Mainland beverages segment was positive, offsetting some challenges in Southeast Asia.
Record Cash Generation and Dividend Increase
Strong cash generation from operations and a 4% increase in ordinary dividend per A Share to HKD 130.