COFCO Joycome Foods Full Year 2023 Earnings: Misses Expectations

COFCO Joycome Foods (HKG:1610) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥11.6b (down 10% from FY 2022).
• Net loss: CN¥135.7m (down by 138% from CN¥356.7m profit in FY 2022).
• CN¥0.031 loss per share (down from CN¥0.091 profit in FY 2022).

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

COFCO Joycome Foods Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 19%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Food industry in Hong Kong.

Performance of the Hong Kong Food industry.

The company's shares are up 8.4% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for COFCO Joycome Foods that you need to be mindful of.

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