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Argosy Property Full Year 2023 Earnings: Misses Expectations

Argosy Property (NZSE:ARG) Full Year 2023 Results

Key Financial Results

  • Revenue: NZ$144.5m (up 9.9% from FY 2022).

  • Net loss: NZ$80.8m (down by 134% from NZ$236.2m profit in FY 2022).

  • NZ$0.095 loss per share (down from NZ$0.28 profit in FY 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Argosy Property Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 1.6% decline forecast for the REITs industry in Oceania.

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Performance of the market in New Zealand.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Argosy Property (1 is significant!) that we have uncovered.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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