China Resources Land Full Year 2023 Earnings: Beats Expectations

China Resources Land (HKG:1109) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥251.1b (up 21% from FY 2022).
• Net income: CN¥31.4b (up 12% from FY 2022).
• Profit margin: 13% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: CN¥4.40 (up from CN¥3.94 in FY 2022).

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

China Resources Land Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%.

Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Real Estate industry in Hong Kong.

Performance of the Hong Kong Real Estate industry.

The company's shares are up 2.7% from a week ago.

Valuation

Our analysis of China Resources Land based on 6 different valuation metrics shows it might be undervalued. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.