China Overseas Property Holdings (HKG:2669) Full Year 2024 Results
Key Financial Results
- Revenue: CN¥14.0b (up 7.5% from FY 2023).
- Net income: CN¥1.51b (up 13% from FY 2023).
- Profit margin: 11% (in line with FY 2023).
- EPS: CN¥0.46 (up from CN¥0.41 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
China Overseas Property Holdings Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 2.3%.
The primary driver behind last 12 months revenue was the Property Management Services segment contributing a total revenue of CN¥10.8b (77% of total revenue). Notably, cost of sales worth CN¥11.7b amounted to 83% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥431.4m (53% of total expenses). Explore how 2669's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Real Estate industry in Hong Kong.
Performance of the Hong Kong Real Estate industry.
The company's shares are up 2.9% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of China Overseas Property Holdings' balance sheet and an in-depth analysis of the company's financial position.
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