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Hong Kong’s Swire Pacific profit slides on property slump, Cathay stabilises

Earnings at Cathay Pacific stabilised while the group switched its focus in the beverage business to Thailand and Laos from the US market.



Swire Pacific's profit fell 85% due to property losses and the sale of its US Coca-Cola franchise. Underlying profit decreased by 11%. Cathay Pacific's earnings stabilized. Swire Properties experienced losses in Hong Kong due to a weak office market and declining retail income, but saw improvement in mainland China's retail sector. The company is shifting its beverage focus to Thailand and Laos.

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