- PropNex (SGX:OYY) reported a record FY22 revenue of S$1,029.2m, up 7.5% y-o-y, largely due to the robust residential resale and rental market, despite the cooling measures introduced in end-September last year.
- - Read this at SGinvestors.io -
PropNex's 4Q22 results were healthy.
- PropNex's 4Q22 revenue increased 23.3% y-o-y to S$298.4m while net profit gained 25% to come in at S$17.8m. This was achieved despite limited new project launches and a decline in the growth of home prices in 4Q22.
- PropNex has proposed a 1-for-1 bonus issue and a final dividend of 8 cents, bringing full-year dividend to 13.5 cents (12.5 cents in FY21), equivalent to an 80% payout ratio (77% in FY21). See PropNex's dividend dates.
Maintaining leadership position with largest network.
- - Read this at SGinvestors.io -
Healthy project pipeline, more than double that of 2022.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Lee Keng LING DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-03-01
Read also DBS's most recent report:
2023-08-11 PropNex - 1H23 Results Below Estimates, Expecting A Better 2H23.
Price targets by 4 other brokers at PropNex Target Prices.
Listing of research reports at PropNex Analyst Reports.
Relevant links:
PropNex Share Price History,
PropNex Announcements,
PropNex Dividends & Corporate Actions,
PropNex News Articles
