CK Asset Holdings Full Year 2023 Earnings: Misses Expectations

CK Asset Holdings (HKG:1113) Full Year 2023 Results

Key Financial Results

• Revenue: HK$47.2b (down 16% from FY 2022).
• Net income: HK$17.3b (down 12% from FY 2022).
• Profit margin: 37% (up from 35% in FY 2022).
• EPS: HK$4.86 (down from HK$5.41 in FY 2022).

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

CK Asset Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 2.8%.

The primary driver behind last 12 months revenue was the Pub Operation segment contributing a total revenue of HK$23.2b (49% of total revenue). The largest operating expense was General & Administrative costs, amounting to HK$10.7b (81% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of HK$5.41b. Explore how 1113's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Real Estate industry in Hong Kong.

Performance of the Hong Kong Real Estate industry.

The company's shares are up 5.1% from a week ago.

Valuation

Our analysis of these results suggests CK Asset Holdings may be undervalued based on 6 important criteria we look at. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking 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.