CITIC Pacific/2000 results -- 2 (company comment)

In a statement releasing its results, company chairman Larry Yung said the aviation sector contributed 1.47 bln hkd to the company's earnings in 2000 against 659 mln the previous year.	    The aviation sector performed particularly well, with the company's associates, Cathay Pacific Airways Ltd and Dragon Air both recording outstanding results, with both cargo and passenger traffic growing substantially.	    "CITIC Pacific is committed to aviation which has great potential, and we are exploring new opportunities to expand in the sector," Yung said, adding that cargo would be an area of interest.	    The increased contribution by civil infrastructure to 1.32 bln hkd in 2000 from 1.29 bln in 1999 was due to higher profit from Eastern Harbour Crossing and lower losses from the Western Harbour Crossing, the company said.	    The contribution from civil infrastructure operations on the mainland was steady.	    Yung said the power generation business contributed about 548 mln hkd in 2000, against 1.19 bln in 1999. 	    The fall was due to the sale of a 15 pct stake in CLP Holdings in 1999, which offset profits from the sale of a power plant in Shanghai in 1999 and higher returns from power plants on the mainland in 2000.	    Contribution from the property sector fell to 422 mln hkd in 2000 from 740 mln a year earlier due to the 244 mln hkd write-off of the cost of the newly-completed tunnel infrastructure at Discovery Bay, he said.	    The sale of Discovery Bay La Serene and Neo Horizon in 2000 yielded only half the profits of Tierra Verde in 1999, Yung added.

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