HLFG Surpassing Expectations For FY24, More To Come
HLFG Surpassing Expectations For FY24, More To Come
HLA Holdings also contributed positively, with a 3% year-on-year increase in pretax profit, primarily driven by a 29% rise in contributions from its associate, MSIG General. While HL Assurance's pretax profit remained stable year-on-year, its embedded value grew by 12.9% to RM4.27 billion. The investment bank's exceptional performance highlights HLFG's solid position in the financial sector and its ability to capitalise on favourable market conditions.Hong Leong Financial Group (HLFG) has announced its FY24 results, which surpassed expectations due to stronger-than-anticipated contributions from its investment banking segment. The company reported a core net profit of RM806 million for 4QFY24, marking a 14% year-on-year increase but a slight 2% quarter-on-quarter decline. This brought the FY24 core net profit to RM3.2 billion, reflecting a 9.9% year-on-year rise and exceeding previous forecasts. Analysts have maintained a "BUY" recommendation on the stock and have raised the target price to RM22.70 from RM21.70, reflecting a 23% potential upside.
Hong Leong Financial Group（HLFG）宣布了FY24的业绩，由于投资银行业务的贡献超出预期，业绩超出预期。公司报告称，4QFY24的核心净利润为RM80600万，同比增长14％，环比微降2％。这使FY24的核心净利润达到RM32亿，同比增长9.9％，超出了之前的预测。分析师们对该股票维持了“买入”建议，并将目标价上调至RM22.70，相比RM21.70上涨23％。
The results were buoyed by a robust performance from HL Capital, leading to a 6% upgrade in earnings forecasts for FY25 and FY26. The investment bank segment experienced exceptional growth, with HL Capital's pretax profit surging 98% year-on-year, driven by notable increases in stockbroking (up 73%), investment banking (up 58%), and asset management (up 94%). This strong performance in capital markets significantly contributed to the overall positive results.
这一业绩的表现得益于HL Capital强劲的业绩，导致对FY25和FY26的盈利预测上调了6％。投资银行板块取得了出色的增长，HL Capital的税前利润同比飙升98％，主要由于股票经纪（增长73％），投资银行（增长58％）和资产管理（增长94％）的显著增长。这种资本市场的强劲表现对整体业绩产生了显著影响。
HL Bank's 4QFY24 core net profit of RM1.03 billion, up 14% year-on-year but down 1% quarter-on-quarter, brought the FY24 net profit to RM4.2 billion, a 9% increase from the previous year. These results were in line with forecasts and reflected robust loan growth of 7.3% year-on-year. However, net interest margin (NIM) contracted by 12 basis points to 1.86% for FY24, consistent with management's guidance. Operating income rose by 1.5% year-on-year, although operating profit remained relatively flat with a slight decrease of 0.6% year-on-year. Core net profit increased by 9% year-on-year, bolstered by further credit cost writebacks.
HL银行4QFY24的核心净利润为RM10.3亿，同比增长14％，环比略降1％。这使得FY24的净利润达到了RM42亿，同比增长9％。这一结果与预测相符，并反映出7.3％的年度贷款增长。然而，FY24的净利息差（NIM）为1.86％，较前一年收缩12个基点，与管理层的指导一致。营业收入同比增长1.5％，尽管营业利润相对稳定，同比微降0.6％。核心净利润同比增长9％，受到信贷成本的进一步清理的支撑。
HLA Holdings also contributed positively, with a 3% year-on-year increase in pretax profit, primarily driven by a 29% rise in contributions from its associate, MSIG General. While HL Assurance's pretax profit remained stable year-on-year, its embedded value grew by 12.9% to RM4.27 billion. The investment bank's exceptional performance highlights HLFG's solid position in the financial sector and its ability to capitalise on favourable market conditions.
HLA Holdings也给出了积极的贡献，税前利润同比增长3％，主要得益于其关联公司MSIG General的贡献增加了29％。虽然HL Assurance的税前利润同比持平，但其内含价值增长了12.9％，达到了RM42.7亿。投资银行的出色表现凸显了HLFG在金融行业的稳固地位和利用有利市场条件的能力。
