	swire seen reporting pct rise in profit swire pacific ltd swpc hkg is likely to show a more than pct rise in operating profits when it reports results tomorrow reflecting gains in its aviation and property businesses share analysts said analysts polled by reuters estimated after tax profits from operations will be between billion and billion dlrs compared with billion in they also said swire will have an extraordinary gain of about billion dlrs from the flotation of its cathay pacific airways ltd caph hkg unit last may swire had an extraordinary gain of mln dlrs in share analysts said swire will set a cent final dividend for its a shares making a total of cents after cents adjusted for a two for one bonus issue in aviation and properties together account for pct of the company s net asset value and about pct of its net profits analysts said the company s aviation division consists of its majority stake in cathay pacific airways ltd and its pct interest in hongkong aircraft engineering co ltd which is also pct owned by cathay cathay last week reported profits climbed to billion dlrs from mln in partly because of lower fuel costs and greater traffic swire s share of cathay which stood at pct before the flotation fell to pct at the end of last year and has since slipped to pct hongkong aircraft reported this month its net profits rose pct to mln dlrs tony measor an analyst at hong leong securities ltd estimates swire s profits will be billion dlrs much depends on properties said measor and they did a lot better in the second half of the year estimates of profits from the firm s wholly owned swire properties ltd unit range widely from mln dlrs to mln compared with mln dlrs in swire properties recorded an interim profit of mln dlrs for the first half of well below mln dlrs for the same period but analysts said that was due mainly to the low level of completion of new residential flats the firm s properties consist mainly of the taikoo shing residential development and two luxury housing projects hoare govett asia ltd said the completion of flats in taikoo shing will have yielded profits of mln dlrs in second half during the year property prices continued to rise as more people bought real estate benefiting from low interest rates analysts said at the end of last year flats in taikoo shing were selling at dlrs per square foot up by about pct from a year ago said frederick tsang of mansion house securities f e ltd swire is developing a large commercial and hotel complex in the central business district of hong kong but it will not provide income until the first stage is completed next year the company also sold three properties and a part interest in a proposed hotel development which should result in extraordinary gains of mln dlrs in according to james capel far east ltd swire s trading and manufacturing operations are expected to  mln dlrs up pct from but its shipping and offshore services are likely to post a small loss of about mln dlrs because of depressed market conditions reuter 
