China Resources Gas Group Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

China Resources Gas Group (HKG:1193) Full Year 2023 Results

Key Financial Results

• Revenue: HK$101.3b (up 7.3% from FY 2022).
• Net income: HK$5.22b (up 10% from FY 2022).
• Profit margin: 5.2% (up from 5.0% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: HK$2.30 (up from HK$2.09 in FY 2022).

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

China Resources Gas Group Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates by 8.6%.

Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Gas Utilities industry in Hong Kong.

Performance of the Hong Kong Gas Utilities industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for China Resources Gas Group that we have uncovered.

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