CKI Holdings' performance in the first half of the year met expectations. Its UK business performed steadily with a year-on-year growth of 17% to 1.9 billion yuan, while its Australian business grew by 5% to 0.864 billion yuan.
According to a research report by Goldman Sachs obtained by the Zhītōng Cáijīng App, CKI Holdings (01038) has been given a 'Neutral' rating. Taking into account the latest business trends, the earnings per share forecast for CKI Holdings for 2024 to 2026 has been adjusted from a 3% decrease to a 6% increase, with the target price raised from HK$52 to HK$57.7.
The report states that CKI Holdings' performance in the first half of the year met expectations, with a net profit of 4.3 billion yuan. The main contribution came from its UK business, which grew steadily by 17% to 1.9 billion yuan, and its Australian business, which grew by 5% to 0.864 billion yuan. The group maintains a progressive dividend policy, with a mid-term dividend growth of 1.4% to 72 Hong Kong cents, which means a stable dividend payout ratio of 42%.
