Far East Horizon Records 38% Lower Profit in 2024

MT Newswires Live03-07

Far East Horizon (HKG:3360) recorded a profit attributable to shareholders of the parent of 3.86 billion yuan in 2024, 37.6% lower than 6.19 billion yuan from 2023, a Friday Hong Kong bourse filing said.

The earnings per share attributable to equity holders of the parent were 0.84 yuan, compared with 1.33 yuan per share from a year earlier.

The financial services company's total revenue for the year was 37.7 billion yuan, 0.55% lower than 38.0 billion yuan from the year-ago period.

The slip in the revenue is attributable to a contraction in traditional financial business resulting from the economic downturn and lower demand. However, the inclusive finance segment saw growth while industrial operation remained stable.

The company recommended a final dividend of HK$0.30 per share for the reporting year, compared with HK$0.50 from the preceding year. The dividend will be paid on May 6 to the shareholders on record as of April 24.

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