First Pacific (HKG:142) Full Year 2024 Results
Key Financial Results
- Revenue: US$10.1b (down 4.3% from FY 2023).
- Net income: US$600.3m (up 20% from FY 2023).
- Profit margin: 6.0% (up from 4.8% in FY 2023). The increase in margin was driven by lower expenses.
- EPS: US$0.14 (up from US$0.12 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First Pacific Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 1.1%.
The primary driver behind last 12 months revenue was the Consumer Food Products segment contributing a total revenue of US$7.29b (72% of total revenue). Notably, cost of sales worth US$6.40b amounted to 64% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$1.63b 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 142's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Food industry in Hong Kong.
Performance of the Hong Kong Food industry.
The company's shares are up 14% from a week ago.
Risk Analysis
You still need to take note of risks, for example - First Pacific has 2 warning signs (and 1 which can't be ignored) we think you should know about.
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