Country Garden Posts 519% Profit Surge For 2024, Launches Share Buyback; Shares Rise 4%

MT Newswires Live2025-03-27

Country Garden Services' (HKG:6098) attributable profit surged 519% to 1.81 billion yuan in 2024 from 292.3 million yuan in 2023, according to a Thursday filing with the Hong Kong bourse.

Earnings per share at the property manager increased 523% to 0.5416 yuan from 0.0869 yuan a year earlier. Analysts at Visible Alpha estimated EPS at 0.56 yuan.

Revenue grew 3.2% to 44 billion yuan from 42.6 billion yuan in the previous year. Visible Alpha analysts forecast revenue at 43.5 billion yuan.

The company declared a final dividend of 0.1352 yuan per share, payable Aug. 29 to shareholders on record as of June 5.

Meanwhile, the company plans to repurchase at least 500 million yuan of shares for one year, according to a separate Thursday filing.

Shares of the property manager jumped 4% during Thursday's afternoon trading.

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