Kerry Properties (SEHK:683) EPS Rebound To HK$0.42 Tests Bearish Profitability Narratives

Simply Wall St.03-24

Kerry Properties (SEHK:683) has released its FY 2025 figures with first half revenue at HK$8.1b and basic EPS of HK$0.42, setting the tone for how the rest of the year might look. Over the last three ...

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Over the last three ...</p>\n\n<a href=\"https://simplywall.st/stocks/hk/real-estate-management-and-development/hkg-683/kerry-properties-shares/news/kerry-properties-sehk683-eps-rebound-to-hk042-tests-bearish\">Source Link</a>\n\n</div>\n","source":"simplywall_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Kerry Properties (SEHK:683) EPS Rebound To HK$0.42 Tests Bearish Profitability Narratives</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKerry Properties (SEHK:683) EPS Rebound To HK$0.42 Tests Bearish Profitability Narratives\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-24 20:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/hk/real-estate-management-and-development/hkg-683/kerry-properties-shares/news/kerry-properties-sehk683-eps-rebound-to-hk042-tests-bearish><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Kerry Properties (SEHK:683) has released its FY 2025 figures with first half revenue at HK$8.1b and basic EPS of HK$0.42, setting the tone for how the rest of the year might look. Over the last three ...</p>\n\n<a href=\"https://simplywall.st/stocks/hk/real-estate-management-and-development/hkg-683/kerry-properties-shares/news/kerry-properties-sehk683-eps-rebound-to-hk042-tests-bearish\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999001846.SGD","symbol_name":"Schroder Asian Equity Yield A Dis SGD","start_time":0,"source_url":"https://simplywall.st/stocks/hk/real-estate-management-and-development/hkg-683/kerry-properties-shares/news/kerry-properties-sehk683-eps-rebound-to-hk042-tests-bearish","article_id":"2621067946","we_media_id":null,"thumbnails":["https://images.simplywall.st/asset/industry/7312000-choice2-main-header/1585186669177"],"rights":{"source":"simplywall_highlight","url":"https://simplywall.st/stocks/hk/real-estate-management-and-development/hkg-683/kerry-properties-shares/news/kerry-properties-sehk683-eps-rebound-to-hk042-tests-bearish","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2621067946","pubTimestamp":1774354279,"columns":[],"sourceInfo":{"source_id":"simplywall_highlight","name":"Simply Wall St."},"weMediaInfo":null,"summary":"Kerry Properties (SEHK:683) has released its FY 2025 figures with first half revenue at HK$8.1b and basic EPS of HK$0.42, setting the tone for how the rest of the year might look. Over the last three reported halves, revenue has moved from HK$5.0b in 1H 2024 to HK$14.5b in 2H 2024 and then to HK$8.1b in 1H 2025. Over the same periods, basic EPS has shifted from HK$0.54 to HK$0.01 and then to HK$0.42, giving investors a clearer view of how the topline and EPS pattern is evolving through the...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999001846.SGD":"Schroder Asian Equity Yield A Dis SGD","LU0607220059.USD":"SCHRODER ISF HONG KONG EQUITY \"A\" (USD) ACC","BK1216":"多样化房地产活动","LU0192582467.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" (USD) INC MF","00683":"嘉里建设","LU0149534421.HKD":"SCHRODER ISF HONG KONG EQ \"A\" ACC","LU0188438112.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" ACC"},"translate_title":"嘉里建设(SEHK：683)每股收益反弹至0.42港元测试看跌盈利能力叙事","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00683":0.9},"content_text":"Kerry Properties (SEHK:683) has released its FY 2025 figures with first half revenue at HK$8.1b and basic EPS of HK$0.42, setting the tone for how the rest of the year might look. Over the last three reported halves, revenue has moved from HK$5.0b in 1H 2024 to HK$14.5b in 2H 2024 and then to HK$8.1b in 1H 2025. Over the same periods, basic EPS has shifted from HK$0.54 to HK$0.01 and then to HK$0.42, giving investors a clearer view of how the topline and EPS pattern is evolving through the cycle. With trailing net margin ahead of last year and a large one-off loss in the recent twelve month window, the latest results leave investors weighing how sustainable the current profitability profile really is. See our full analysis for Kerry Properties. With the headline numbers on the table, the next step is to compare these results with the most common narratives around Kerry Properties to see which stories hold up and which may need a rethink. Curious how numbers become stories that shape markets? Explore Community Narratives SEHK:683 Revenue & Expenses Breakdown as at Mar 2026 AdvertisementHK$19.6b trailing revenue with mixed half year pattern  Over the last twelve months, revenue sits at HK$19.6b, compared with HK$8.1b in 1H 2025, HK$14.5b in 2H 2024 and HK$5.0b in 1H 2024. The trailing figure therefore reflects a much larger base than any single half year. What stands out for a bullish view is that this higher trailing revenue is paired with forecast revenue growth of 13.3% per year versus an 8.2% market forecast. Bears, however, can point to the swing between HK$5.0b, HK$14.5b and HK$8.1b by half year as a sign that the path to those forecasts is not smooth.\n     Bulls often focus on the 13.3% revenue growth forecast and the HK$19.6b trailing level as support for a bigger platform. Critics instead highlight how the semi annual pattern can make short term visibility less straightforward. For a beginner investor, that mix means the story is about a larger revenue base today with forecasts pointing higher, but with a rhythm that does not move in a straight line from half to half.    Curious how these mixed revenue patterns feed into different long term stories for the stock? 📊 Read the what the Community is saying about Kerry Properties. Margins at 4.8% with HK$1.5b one off loss in the backdrop  Trailing net margin is 4.8% compared with 4.1% a year earlier, while the last twelve months also include a HK$1.5b one off loss that still flows through the reported profit base. Skeptics argue that a 4.8% margin alongside a recent HK$1.5b loss keeps profitability looking fragile. What is also notable is that net income excluding extra items for 1H 2025 is HK$612m versus HK$19.964m in 2H 2024, which suggests the underlying run rate can differ a lot from the one off hit.\n     On the cautious side, the five year earnings trend is a 43.8% per year decline and dividend coverage is described as weak, which fits with worries that thin margins leave little room for shocks. At the same time, the move from HK$19.964m net income excluding extra items in 2H 2024 to HK$612m in 1H 2025 shows that once the one off loss is stripped out, the margin picture investors are watching is being shaped by more than that single charge.    High 34.3x P/E against 6.9% discount to DCF fair value  The shares trade on a 34.3x trailing P/E compared with 13.4x for the Hong Kong real estate industry and 25.2x for peers. The current price of HK$22.16 sits about 6.9% below the DCF fair value of HK$23.80. Analysts with a bullish stance tend to highlight that forecast earnings growth of 48.2% per year and an analyst target of HK$26.64 both sit above the current HK$22.16 price. The same numbers also show investors already paying a higher P/E than most sector names.\n     Supporters of the bullish case point to the 16.1% trailing earnings growth and the 20.2% implied upside to the HK$26.64 analyst target as reasons the valuation gap might be acceptable. Critics instead focus on the combination of a 34.3x P/E and a weakly covered 6.09% dividend yield as signs that the current price builds in strong expectations that need those growth forecasts to play out.    Next Steps Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Kerry Properties's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move. With sentiment split between risks around margins and optimism on earnings forecasts, it makes sense to look through the data yourself and decide how comfortable you are with that balance. To help frame both sides of the story, go through the 4 key rewards and 2 important warning signs. See What Else Is Out There Thin 4.8% margins, weak dividend coverage and a high 34.3x P/E together suggest income strength and downside protection may not be especially robust here. If that mix leaves you wanting steadier income and capital protection, check out the 273 resilient stocks with low risk scores to quickly focus on companies with more resilient profiles.  This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.Valuation is complex, but we're here to simplify it.Discover if Kerry Properties might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. 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