Glonghui, March 27 | First Taiping (00142.HK) announced that throughout 2023, the company's turnover increased 2.0% from US$10.304.9 billion to US$10.510.7 billion; profit contribution from operations increased 18.2% from US$593.3 million to US$701.5 million; recurring profit increased 18.7% from US$508.8 million to US$603.8 million; and profit attributable to parent company owners increased 28.0% from US$391.6 million to US$501.2 million.
Basic earnings per share increased by 28.5% from 9.20 cents to 11.82 cents; a final distribution of HK12.50 cents per common share (2022: HK11.50 or 1.47 US cents) is recommended, which means that the total distribution per common share for the whole year is equivalent to HK23.00 cents.
Net consolidated debt decreased by 0.5% from US$8.493.2 billion on December 31, 2022 to US$8.450.3 billion on December 31, 2023. The comprehensive debt-to-equity ratio fell from 0.82 times on December 31, 2022 to 0.73 times on December 31, 2023.