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26
Financial Review
Group turnover increased by 9.9% in 2011 compared with 2010.•
HK$ million
0
20,000
40,000
60,000
80,000
100,000
1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11
Turnover
Passenger in ‘000
0
2,500
7,500
5,000
10,000
12,500
15,000
Cargo in ‘000 tonnes
400
500
600
700
900
800
1,000
Cathay Pacific and Dragonair:
passengers and cargo carried
Cargo and mail carried
Passengers carried
Catering, recoveries and other services
Cargo services
Passenger services
2007 2008 2009 2010 2011
Turnover
Group Cathay Pacific and Dragonair
2011
HK$M
2010
HK$M
2011
HK$M
2010
HK$M
Passenger services 67,778 59,354 67,778 59,354
Cargo services 25,980 25,901 23,335 23,727
Catering, recoveries and other services 4,648 4,269 4,006 3,572
Turnover 98,406 89,524 95,119 86,653
The Cathay Pacific Group reported an attributable profit of HK$5,501 million in
2011 compared with a profit of HK$14,048 million in 2010. The 2010 results included
HK$3,033 million of significant non-recurring items, being the profit on the sales
of our shareholdings in Hactl and HAECO and the gain on the deemed disposal of
part of our interest in Air China. Adjusting for these profits, the attributable profit in
2011 decreased by HK$5,514 million or 50.1% from 2010. The reduction principally
reflects slower growth in passenger traffic, weak demand for air cargo services,
particularly for shipments of cargo from Hong Kong and Mainland China, and high
fuel prices. Global economic uncertainty and high fuel prices are major challenges
for the Group.