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Towngas China Co ( (HK:1083) ) just unveiled an announcement.
Towngas China Co reported a 35% increase in core operating profit to over HK$1.6 billion for 2024, driven by strong performance in renewable energy and steady growth in its gas business. The company achieved a 7.4% revenue growth to HK$21,314 million, with significant contributions from its renewable energy segment, which saw a five-fold increase in net profit. The company also issued an asset-backed securities program to reduce financing costs and plans to invest further in renewable projects. A proposed dividend of 19 HK cents per share reflects the company’s recognition of shareholder support.
More about Towngas China Co
Towngas China Co is a company operating in the energy sector, focusing on renewable energy and city-gas services. It is involved in the production and distribution of gas, as well as renewable energy projects, including photovoltaic power generation and energy storage solutions.
YTD Price Performance: 4.50%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.47B
For detailed information about 1083 stock, go to TipRanks’ Stock Analysis page.