Agile Group core profit climbs to 11.1b yuan in 2020

Agile Group Holdings (3383) reported today core net profit in the year ended December 31, 2020, increased by 31.2 percent, from the year before, to 11.12 billion yuan, while net profit increased by 32.7 percent to 12.24 billion yuan.

The basic earnings per share were 2.44 yuan, higher by 6.1 percent from the year before.

Revenue from property management and environmental protection were 7.85 billion and 2.28 billion respectively, representing an increase of 119.5 percent and increase of 51.6 percent when compared with the year before.

Revenue from property development business and diversified businesses accounted for 86.7 percent and 13.3 percent respectively.

Agile Group proposed a final dividend of HK 60 cents per ordinary share for 2020, an increase of 50 percent, from the year before.
Group revenue increased by 33.2 percent to 80.24 billion yuan. Gross profit was 24.1 billion yuan, up by 31.3 percent, on year. Overall gross profit margin was 30 percent.

Property sales in China fell sharply at  beginning of the year due to the impact of the coronavirus disease spread in the mainland, said chairman and president Chen Zhuolin in a result announcement. But the market recovered in the second quarter.