$CTG DUTY-FREE(01880.HK) released its full-year performance forecast for the fiscal year 2024 last week, achieving a revenue of 56.5 billion, a year-on-year decrease of 16%, and a net profit attributable to the parent company of 4.26 billion, a year-on-year decrease of 36.5%. Looking at the fourth quarter alone, revenue was 13.5 billion, down 19.3%, and net profit attributable to the parent company was 230 million, down 85% year-on-year.
Compared to the third quarter's revenue growth rate of -22%, there was a slight improvement in Q4, but it still remains in the negative growth "deep water zone." Additionally, due to the seasonal peak of year-end expense settlements, profits have plummeted significantly. Overall, there are still no signs of a fundamental turnaround in performance. The focus going forward will be on the performance during the peak seasonal period of the Spring Festival & winter holidays.
