"Big Banks" UBS: CLP Holdings' recurring net profit last year was below expectations
UBS released a report indicating that CLP Holdings (00002.HK) is expected to see a 2% year-on-year decline in recurring net profit for the fiscal year 2025, down to HKD 10.7 billion, which is below expectations and lower than the market and the bank's forecasts of HKD 11.5 billion and HKD 11.1 billion, respectively. This is mainly dragged down by poor performance in the Australian business; the dividend per share is expected to rise by 2% year-on-year, in line with market consensus.
The bank maintains a target price of HKD 70 for CLP and a "Neutral" rating
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