Best Pacific International Holdings Full Year 2023 Earnings: Beats Expectations

Best Pacific International Holdings (HKG:2111) Full Year 2023 Results

Key Financial Results

• Revenue: HK$4.20b (down 6.5% from FY 2022).
• Net income: HK$346.9m (up 16% from FY 2022).
• Profit margin: 8.3% (up from 6.7% in FY 2022). The increase in margin was driven by lower expenses.
• EPS: HK$0.33 (up from HK$0.29 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Best Pacific International Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 24%.

The primary driver behind last 12 months revenue was the Manufacturing and Trading of Elastic Fabric and Lace segment contributing a total revenue of HK$3.37b (80% of total revenue). Notably, cost of sales worth HK$3.20b amounted to 76% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to HK$303.9m (46% of total expenses). Explore how 2111's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Luxury industry in Hong Kong.

Performance of the Hong Kong Luxury industry.

The company's shares are up 24% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Best Pacific International Holdings that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.