Summary by Moomoo AI
Cathay Pacific Limited announced its 2023 annual results showing a significant increase in revenue of 85.1% to HK$94,485 million. Cathay Group shareholders accounted for a profit of HK$9,789 million, a significant improvement from the loss of HK$6,623 million after the reclassification in 2022. Earnings on ordinary shares were 140.8 HK cents and declared the first dividend since 2019 at HK$0.43 per ordinary share. In terms of financial condition, Cathay Group shareholders accounted for HK$60,026 million and net borrowings decreased by 10.3% to HK$52,764 million. Operational statistics show that passenger flights have recovered to 70% of pre-pandemic levels, connecting Hong Kong and around 80 destinations around the world. The shares of the company will be paid on April 2, 2024. Cathay Pacific Chairman Hai Hai said that the company has made good progress in rebuilding efforts after the pandemic and is confident in future development.