Cathay Pacific 2014 Annual Report Download - page 26

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Cathay Pacific Airways Limited
24 Financial Review
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20,000
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80,000
100,000
120,000
0
3,000
9,000
6,000
12,000
15,000
18,000
0
200
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1,000
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2010 2011 2012 2013 2014
HK$ million
Turnover
Passenger in ‘000 Cargo in ‘000 tonnes
Cathay Pacic and Dragonair:
passengers and cargo carried
Cargo and mail carried
Passengers carried
Catering, recoveries and other services
Cargo services
Passenger services
1H10 2H10 1H11 2H11 1H12 2H12 1H13 2H13 1H14 2H14
The Cathay Pacific Group reported an attributable profit of HK$3,150 million in 2014
compared with a profit of HK$2,620 million in 2013. The improvement in the Group’s
performance in 2014 largely occurred in the second half of the year. Passenger demand
was reasonably firm throughout the year and that had strong demand during the summer
and Christmas seasonal peak periods. However, strong competition put downward
pressure on yield on regional routes. The cargo business benefited from the improvement
in the cargo market from the summer onwards. Overall profits benefited from lower fuel
prices in the fourth quarter of 2014, but this was partially offset by fuel hedging losses.
• Group turnover increased by 5.5% in 2014 compared with 2013.
Turnover
Group Cathay Pacific and Dragonair
2014
HK$M
2013
HK$M
2014
HK$M
2013
HK$M
Passenger services 75,734 71,826 75,734 71,826
Cargo services 25,400 23,663 22,035 20,293
Catering, recoveries and other services 4,857 4,995 4,278 4,322
Total turnover 105,991 100,484 102,047 96,441