Wharf REIC Books Lower Profits in 2024; EPS, Revenue Miss Estimates; Shares Down 3%

MT Newswires Live03-10

Wharf Real Estate Investment (HKG:1997) recorded an attributable profit of HK$891 million in 2024, lower than HK$4.77 billion in 2023, according to a Monday Hong Kong bourse filing.

The property investment company's earnings per share dropped to HK$0.29 from HK$1.57 a year earlier. Analysts at Visible Alpha estimated EPS at HK$2.02.

Revenue slipped 3% to HK$12.9 billion from HK$13.3 billion in the prior year. Visible Alpha analysts forecast revenue at HK$13.1 billion.

The company declared a final dividend of HK$0.60 per share, payable on April 24 to shareholders on record as of April 7.

Shares of the company were down over 3% in recent trade.

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