Cathay full-year profit triples to HK$2.6b

[HONG KONG] Hong Kong carrier Cathay Pacific yesterday said net profit more than tripled last year on a rise in Chinese travellers and fuel-cost savings, but its cargo unit saw earnings fall while analysts warned of a tough future.

The city's flag-carrier said profit jumped to HK$2.62 billion (S$427.7 million) from HK$862 million in 2012 as revenue climbed 1.1 per cent to HK$100.5 billion.

The 204 per cent increase helped the firm recover from a painful 2012, when its bottom line was hammered by the effects of the eurozone crisis as well as persistently high fuel prices.