Greentown Service Group's EPS Growth Aided by Margin Improvement -- Market Talk

Dow Jones08-27

0635 GMT - Greentown Service Group's EPS growth looks more certain than before, aided by margin improvement, CGS International analysts say in a research report as they upgrade the stock's rating to add from hold and raise the target price to HK$4.24 from HK$4.20. Key driver of the Chinese company's 1H profit growth was its property management services, for which gross profit margin widened by 1.1 percentage points, the analysts note. For 2024, management targets the company's overall gross profit margin to rise by 0.50 percentage points and its selling, general, and administrative expense ratio to fall by 0.50 percentage points, the analysts add. Shares are 6.7% higher at HK$3.50. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

August 27, 2024 02:35 ET (06:35 GMT)

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For 2024, management targets the company's overall gross profit margin to rise by 0.50 percentage points and its selling, general, and administrative expense ratio to fall by 0.50 percentage points, the analysts add. Shares are 6.7% higher at HK$3.50. 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