First Pacific Co Reports Strong Profit Growth in 2024

First Pacific Co ( (FPAFF) ) has released its Q4 earnings. Here is a breakdown of the information First Pacific Co presented to its investors.

First Pacific Co, a diversified investment management and holding company, operates in the consumer food products, telecommunications, infrastructure, and natural resources sectors, with significant interests in the Philippines and Indonesia. The company has released its audited financial results for 2024, showcasing a notable increase in recurring profit by 11.4% to $672.5 million, despite a 4.3% decline in turnover to $10,057.2 million. Profit attributable to owners rose by 19.8% to $600.3 million, reflecting improved operational efficiencies and strategic gains. Key financial metrics include a 19.7% increase in basic earnings per share and a recommended final distribution of HK13.50 cents per ordinary share. The company faced foreign exchange and derivative losses of $40.2 million, but non-recurring losses decreased significantly by 73.8%. Looking ahead, First Pacific Co remains focused on enhancing shareholder value through strategic investments and operational improvements, while navigating the challenges posed by market fluctuations.