China Tourism Group Duty Free Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 09/01 00:51

China Tourism Group Duty Free (SHSE:601888) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥12.5b (down 17% from 2Q 2023).
  • Net income: CN¥976.4m (down 38% from 2Q 2023).
  • Profit margin: 7.8% (down from 10% in 2Q 2023). The decrease in margin was driven by lower revenue.
  • EPS: CN¥0.47 (down from CN¥0.76 in 2Q 2023).
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SHSE:601888 Earnings and Revenue Growth September 1st 2024

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

China Tourism Group Duty Free Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 32%. Earnings per share (EPS) also missed analyst estimates by 30%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Specialty Retail industry in China.

Performance of the Chinese Specialty Retail industry.

The company's share price is broadly unchanged 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 China Tourism Group Duty Free that you need to be mindful of.