Panda Dairy Reports First Quarter 2024 Earnings
Source: The DairyNews
Panda Dairy (SZSE:300898) has released its financial results for the first quarter of 2024, showcasing notable improvements and strategic forecasts for the future.
Key Financial Highlights:
Revenue amounted to CN¥185.0 million, reflecting a 14% decline compared to the first quarter of 2023.
Net income reached CN¥26.6 million, marking a substantial 39% increase from the same period last year.
The profit margin surged to 14%, a significant rise from 8.9% in the first quarter of 2023, primarily attributed to decreased expenses.
Earnings per share (EPS) stood at CN¥0.21, up from CN¥0.15 in the first quarter of 2023.
Looking Forward:
Panda Dairy is poised for promising growth prospects in the coming years, with revenue forecasted to achieve an average annual growth rate of 21% over the next two years. This forecast significantly surpasses the anticipated 13% growth rate for the Food industry in China during the same period.
Market Performance:
Investor sentiment remains positive, with Panda Dairy's shares witnessing a 3.7% increase compared to a week ago, indicative of growing confidence in the company's trajectory and performance.
Panda Dairy's first quarter 2024 earnings report underscores its resilience and strategic positioning amidst evolving market dynamics, setting a promising foundation for sustained growth and value creation in the future.
Revenue amounted to CN¥185.0 million, reflecting a 14% decline compared to the first quarter of 2023.
Net income reached CN¥26.6 million, marking a substantial 39% increase from the same period last year.
The profit margin surged to 14%, a significant rise from 8.9% in the first quarter of 2023, primarily attributed to decreased expenses.
Earnings per share (EPS) stood at CN¥0.21, up from CN¥0.15 in the first quarter of 2023.
Looking Forward:
Panda Dairy is poised for promising growth prospects in the coming years, with revenue forecasted to achieve an average annual growth rate of 21% over the next two years. This forecast significantly surpasses the anticipated 13% growth rate for the Food industry in China during the same period.
Market Performance:
Investor sentiment remains positive, with Panda Dairy's shares witnessing a 3.7% increase compared to a week ago, indicative of growing confidence in the company's trajectory and performance.
Panda Dairy's first quarter 2024 earnings report underscores its resilience and strategic positioning amidst evolving market dynamics, setting a promising foundation for sustained growth and value creation in the future.
