Guoco Group (53) H2 2024 earnings summary

Executive summary

• Consolidated profit attributable to shareholders rose 4% year-over-year to HK$3,580.9 million, with basic EPS at HK$11.01, up from HK$10.58.

• Revenue increased 15% to HK$22.5 billion, driven by strong property sales in Singapore and growth in hospitality and leisure.

• All major segments were profitable, though property development and investment saw reduced profit.

Financial highlights

• Turnover rose 17% to HK$25.8 billion; profit from operations up 71% to HK$2,940 million year-over-year.

• Final dividend proposed at HK$2.70 per share, total dividend for the year at HK$3.20, a 7% increase.

• Equity per share attributable to shareholders increased 3% to HK$186.46.

Outlook and guidance

• Cautiously optimistic outlook for FY2024/25 amid global uncertainties, leveraging market diversification across Western and Asian markets.

• Focus remains on growth and value creation despite geopolitical and economic headwinds.