Swire Pacific Limited Announces 2023 Interim Results

Swire Pacific announces 2023 interim results. Below are the performance highlights of Swire Coca-Cola:

• Swire Coca-Cola made an attributable profit of HK$1,423 million in the first half of 2023. This included a non-recurring loss of HK$239 million, arising from an impairment on investment and relevant provisions in the joint venture for plastic recycling. There was a non-recurring gain of HK$35 million, arising from the fair value adjustment related to the acquisition of equity interests in the six subsidiaries of CCBMH in the Chinese Mainland. Excluding these non-recurring items, the attributable profit was HK$1,627 million, compared with HK$1,152 million in the first half of 2022.
• Total revenue (including that of Shanghai Shen-Mei and excluding sales to other bottlers) increased by 14% to HK$30,442 million.
• Sales volume increased by 18% to 1,055 million unit cases.
• In the Chinese Mainland, Hong Kong and Taiwan, both revenue and volume grew. In the USA, revenue increased but volume declined. The newly acquired franchise bottling business in Vietnam recorded a strong performance and began to contribute full-period revenue during the first half of 2023.