BUZZ-Cathay Pacific near 6-year peak on 2024 earnings beat

Reuters
03-12
BUZZ-Cathay Pacific near 6-year peak on 2024 earnings beat

** Cathay Pacific Airways 0293.HK jumps ~4% to HK$11.54, highest since May 2019

** Stock set for biggest one-day pct rise since January 9

** Hong Kong's flag carrier reports 1% y/y rise in full-year profit, following stronger H2 due to a holiday-season boost in travel demand and lower fuel prices

** Reports net profit of HK$9.89 bln ($1.27 bln) for year ended December 31, 2024 vs year-ago HK$9.79 bln, beating SmartEstimate's HK$8.49 bln forecast

** Declares second interim dividend of HK$0.49, higher than Visible Alpha consensus of HK$0.42

** Stock up ~19% YTD

($1 = HK$7.7698)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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