Kerry Properties (HKG:683) Full Year 2024 Results
Key Financial Results
- Revenue: HK$19.5b (up 49% from FY 2023).
- Net income: HK$808.0m (down 75% from FY 2023).
- Profit margin: 4.1% (down from 25% in FY 2023).
- EPS: HK$0.56 (down from HK$2.24 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Kerry Properties Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 65%.
The primary driver behind last 12 months revenue was the Mainland Property segment contributing a total revenue of HK$12.8b (66% of total revenue). Notably, cost of sales worth HK$13.1b amounted to 67% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling HK$3.49b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how 683's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Hong Kong.
Performance of the Hong Kong Real Estate industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
You still need to take note of risks, for example - Kerry Properties has 4 warning signs (and 2 which make us uncomfortable) we think you should know about.
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