- PropNex (SGX:OYY)'s 4Q22 PATMI jumped 24.5% y-o-y to S$17.8m, beating our and market expectations. This took FY22 earnings to S$62.4m (+3.9% y-o-y) and accounts for ~115%/109% of MIBG/street’s full year estimates.
- - Read this at SGinvestors.io -
- PropNex declared a final dividend of S$0.08, bringing total dividend to S$0.135 fo FY22, representing a payout ratio of 80%. See PropNex's dividend dates.
Full year revenue surpasses S$1.0b mark
- PropNex's revenue rose 23.3% y-o-y to S$298.4m in 4Q, mainly due to increase in commission income from both agency and project marketing services. This came on the back of a higher number of transactions completed despite the rising interest rates environment.
- - Read this at SGinvestors.io -
- Compared with its closest peer, APAC Realty (SGX:CLN)’s 2H22 results, PropNex looks to be gaining market share at the expense of competitors.
Transaction volumes to rebound in 2023
- Read more at SGinvestors.io.
