Wangfujing Group Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 08/30 22:32

Wangfujing Group (SHSE:600859) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥2.73b (down 9.5% from 2Q 2023).
  • Net income: CN¥91.3m (down 69% from 2Q 2023).
  • Profit margin: 3.3% (down from 9.7% in 2Q 2023). The decrease in margin was driven by lower revenue.
  • EPS: CN¥0.08 (down from CN¥0.26 in 2Q 2023).
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SHSE:600859 Earnings and Revenue Growth August 30th 2024

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

Wangfujing Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 65%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in China.

Performance of the Chinese Multiline Retail industry.

The company's shares are down 1.2% from a week ago.

Risk Analysis

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