Bank of East Asia (HKG:23) H1 2024 results
Key financial results
- Sales: HK$7.50 billion (3.4% less than in H1 2023).
- Net income: HK$1.81 billion (22% lower than H1 2023).
- Profit margin: 24% (compared to 30% in H1 2023). The margin decline was mainly due to higher expenses.
- Earnings per share: HK$0.69 (compared to HK$0.87 in H1 2023).
All figures shown in the graph above refer to the last 12 months (TTM)
Bank of East Asia’s revenue and profits fall short of expectations
Sales missed analysts’ estimates by 1.0%. Earnings per share (EPS) also missed analysts’ estimates by 14%.
An average revenue growth of 9.8% per annum is expected for the next three years. In the banking sector in Hong Kong, however, growth of 9.7% is forecast.
Performance of the Banking industry in Hong Kong.
The company’s shares rose 2.9 percent compared to the previous week.
Risk analysis
You should always think about the risks. A typical example: We have 2 warning signals for the Bank of East Asia You should be aware.
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