Country Garden Services Holdings First Half 2024 Earnings: Beats Expectations

Country Garden Services Holdings (HKG:6098) First Half 2024 Results

Key Financial Results

• Revenue: CN¥21.0b (up 1.5% from 1H 2023).
• Net income: CN¥1.44b (down 39% from 1H 2023).
• Profit margin: 6.8% (down from 11% in 1H 2023).
• EPS: CN¥0.43 (down from CN¥0.70 in 1H 2023).

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

Country Garden Services Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) also surpassed analyst estimates by 35%.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Real Estate industry in Hong Kong.

Performance of the Hong Kong Real Estate industry.

The company's shares are up 14% 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 Country Garden Services Holdings that you need to be mindful of.

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