Hong Kong's Swire Pacific H1 revenue up 8% on property division strength
Hong Kong's Swire Pacific H1 revenue up 8% on property division strength
Overview
Hong Kong conglomerate's H1 revenue rose 8% yr/yr to HK$49.4 bln
Underlying profit attributable to shareholders up 43% yr/yr, driven by Property and Aviation
Company raised interim dividend by 15%
Outlook
Swire Pacific expects Hong Kong leasing demand to strengthen, supported by inbound tourism recovery
Company anticipates commodity price uncertainty for Swire Coca-Cola over the next six months
Cathay group remains on track for 2026 passenger capacity growth target of around 10%
Result Drivers
PROPERTY SALES - Co said improved residential trading profits and completion of high-value sales, including 6 Deep Water Bay Road in Hong Kong, drove Property Division results
AIR TRAVEL DEMAND - Cathay group delivered strong results due to high demand for air travel and non-recurring gains from share transactions
CHINESE MAINLAND CONSUMER DEMAND - Beverages Division saw improved results in the Chinese Mainland, supported by stronger consumer demand and investment in emerging channels
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| HK$49.45 bln |
|
H1 Net Income Attributable |
| HK$6.77 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the non-alcoholic beverages peer group is "buy"
Wall Street's median 12-month price target for Swire Pacific Ltd is HK$102.10, about 6% above its August 5 closing price of HK$96.35
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Reuters Recommended Reads
Aug 5 - Cathay Pacific posts best first-half profit since 2010 despite fuel cost surge
Aug 5 - Bottler Coca-Cola HBC lifts profit forecast as demand outshines macro concerns
Aug 4 - Lufthansa's Q2 profit falls as fuel costs weigh
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on Swire Pacific
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Brief: Swire Pacific Executes Accelerated Exchange Trade In Relation To Bonds
Brief: Swire Pacific Announces Potential Accelerated Exchange Trade In Relation To Bonds
Hong Kong's Swire Pacific H1 revenue up 8% on property division strength