Yahoo Finance City Developments Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
City Developments (SGX:C09) Full Year 2023 Results
Key Financial Results
Revenue: S$4.94b (up 50% from FY 2022).
Net income: S$317.3m (down 75% from FY 2022).
Profit margin: 6.4% (down from 39% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: S$0.34 (down from S$1.40 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
City Developments Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 15%.
Looking ahead, revenue is forecast to decline by 8.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Singapore are expected to remain flat.
Performance of the Singaporean Real Estate industry.
The company's shares are down 4.5% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 3 warning signs for City Developments (1 makes us a bit uncomfortable!) that you need to be mindful of.
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