Cathay first-half profit up nearly sixfold, misses estimates

Hong Kong flag carrier Cathay Pacific said Wednesday first-half profit rose sixfold from a year earlier, helped by lower fuel prices, but shares fell to a nine-month low as the result missed expectations. Net profits in the six months through June rose to HK$1.97 billion ($254 million) from HK$347 million in the same period last year, helped by a slump in oil prices that cut fuel costs over a third. "The group's performance in the first six months of 2015 was considerably better than in the same