Mah Sing Group Berhad Full Year 2023 Earnings: Beats Expectations

Mah Sing Group Berhad (KLSE:MAHSING) Full Year 2023 Results

Key Financial Results

• Revenue: RM2.60b (up 12% from FY 2022).
• Net income: RM215.3m (up 37% from FY 2022).
• Profit margin: 8.3% (up from 6.8% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: RM0.089 (up from RM0.065 in FY 2022).

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

Mah Sing Group Berhad Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 10%.

The primary driver behind last 12 months revenue was the Properties segment contributing a total revenue of RM2.11b (81% of total revenue). Notably, cost of sales worth RM2.01b amounted to 77% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to RM189.4m (50% of total expenses). Explore how MAHSING's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Real Estate industry in Malaysia.

Performance of the Malaysian Real Estate industry.

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

Risk Analysis

Be aware that Mah Sing Group Berhad is showing 2 warning signs in our investment analysis that you should know about...

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