Longfor Group Holdings First Half 2024 Earnings: Misses Expectations

Longfor Group Holdings (HKG:960) First Half 2024 Results

Key Financial Results

• Revenue: CN¥46.9b (down 25% from 1H 2023).
• Net income: CN¥5.87b (down 27% from 1H 2023).
• Profit margin: 13% (in line with 1H 2023).
• EPS: CN¥0.90 (down from CN¥1.32 in 1H 2023).

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

Longfor Group Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 9.4%.

Looking ahead, revenue is expected to decline by 6.1% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 4.8%.

Performance of the Hong Kong Real Estate industry.

The company's shares are up 9.4% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 4 warning signs for Longfor Group Holdings you should be aware of, and 1 of them is a bit concerning.

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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.