HFEL: Asia Pacific profits prove resilient during Covid-19 recession

Companies in Asia Pacific dipped by 4%

Companies in Asia Pacific ex-Japan saw profits dip by just 4% amid the fallout of the coronavirus pandemic, compared to a global pre-tax profit decline of 23.4% to £2.2tn in 2020, according to research from investment trust Henderson Far East Income (HFEL).

The UK was the hardest hit, with pre-tax profits down by 81%, while Europe also saw a significant impact. The US and Canada were less badly affected, and Japan saw a negligible effect. HFEL analysed the 2010 to 2020 annual financial results of 2,046 companies. It excluded any company without all 11 years of financial history, which left 1,717 companies, of which 763 were in Asia Pacific ex-Japan and 954 in the rest of the world. Asia Pacific growth: Finding resilient companies even as economies rebound Mike Kerley, fund manager of the £522.8m Henderson Far East Income said: "The gl...