China Merchants Property Operation & Service Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 09/01 01:17

China Merchants Property Operation & Service (SZSE:001914) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥4.11b (up 12% from 2Q 2023).
  • Net income: CN¥244.6m (up 4.2% from 2Q 2023).
  • Profit margin: 5.9% (down from 6.4% in 2Q 2023). The decrease in margin was driven by higher expenses.
  • EPS: CN¥0.23 (up from CN¥0.22 in 2Q 2023).
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SZSE:001914 Earnings and Revenue Growth September 1st 2024

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

China Merchants Property Operation & Service Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Real Estate industry in China.

Performance of the Chinese Real Estate industry.

The company's shares are up 2.4% 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 Merchants Property Operation & Service that you need to be mindful of.