KARACHI: The Cathay Pacific Group reported an attributable profit of HK$916 million for 2012 an 83.3% fall compared to the profit of HK$5,501 million reported for 2011.
A statement here on Wednesday said that the earnings per share fell by 83.3% to HK23.3 cents. Turnover for the year increased by 1.0% to HK$99,376 million.
It said that in 2012 the Group's core business was adversely affected by the high price of jet fuel, pressure on passenger yields and weak air cargo demand.
Economic uncertainty, particularly in the Eurozone countries, and an increasingly competitive environment added to the difficulties.
It was a challenging year for the aviation industry generally. The Group's share of profits from associated companies, including Air China, showed a marked decline.
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