Cathay Pacific profits up nearly sixfold but miss estimates

Hong Kong flag carrier Cathay Pacific said Wednesday first-half profit rose almost sixfold from a year earlier, helped by lower fuel prices, but shares fell to a nine-month low as the result missed expectations. Net profit in the six months to June rose to HK$1.97 billion ($254 million) from HK$347 million in the same period last year, helped by a slump in world oil prices that cut fuel costs by more than a third. "The group's performance in the first six months of 2015 was considerably better t