BUZZ-Cathay Pacific hits 1-1/2 year peak on first annual profit in 4 years

Reuters03-13

** Shares of Cathay Pacific Airways jump as much as 5.1% to HK$9.12, their highest since September 2022, and on course for the second session of gain

** Stock on track for the biggest one-day pct rise since June 20 last year, if gains hold

** The Hong Kong's flagship carrier reported on Wednesday a HK$9.79 billion ($1.25 billion) profit for 2023, its first annual profit since 2019, and said it plans to expand its workforce by around 20%, or 5,000 people, this year

** Stock of major shareholder Swire Pacific rises 2.7% to HK$66.25, highest since Feb 29

** Hang Seng Commerce & Industry Index gains 0.3%, while Hang Seng Composite Index and Hang Seng Index

both climb 0.2%

** Cathay Pacific stock up 10.5% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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