Carote (HKG:2549) Full Year 2024 Results
Key Financial Results
- Revenue: CN¥2.07b (up 31% from FY 2023).
- Net income: CN¥356.0m (up 50% from FY 2023).
- Profit margin: 17% (up from 15% in FY 2023). The increase in margin was driven by higher revenue.
- EPS: CN¥0.81 (up from CN¥0.59 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Carote EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) exceeded analyst estimates by 17%.
The primary driver behind last 12 months revenue was the Branded Business segment contributing a total revenue of CN¥1.86b (90% of total revenue). Notably, cost of sales worth CN¥1.24b amounted to 60% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to CN¥375.5m (78% of total expenses). Explore how 2549's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Consumer Durables industry in Hong Kong.
Performance of the Hong Kong Consumer Durables industry.
The company's shares are up 11% from a week ago.
Risk Analysis
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