First Pacific Co Reports Strong Profit Growth Despite Turnover Decline in 2024

An update from First Pacific Co ( (HK:0142) ) is now available.

First Pacific Co, a company incorporated in Bermuda, reported its 2024 annual financial results, highlighting an 11.4% increase in recurring profit to US$672.5 million, despite a 4.3% decrease in turnover to US$10,057.2 million. The company saw a 19.8% rise in profit attributable to owners of the parent, reaching US$600.3 million. The financial report also noted a significant decrease in non-recurring losses by 73.8% and an increase in equity attributable to owners by 6.5%. However, the consolidated net debt rose by 7.7%, and the gearing ratio increased to 0.76 times. The announcement reflects a robust profit performance despite challenges in turnover, indicating a positive operational impact and potential shareholder benefits through increased earnings per share and recommended distributions.

More about First Pacific Co

YTD Price Performance: 24.04%

Average Trading Volume: 19,650

Technical Sentiment Signal: Sell

Current Market Cap: $2.73B

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