PropNex - DBS Research 2023-03-01: Riding On The Resilient Property Market

• 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 an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-26 PropNex - Hitting A Home Run.

Previous report by DBS:
2025-01-06 PropNex - Ace Of Spades In Singapore Property.

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 Dividend Payout Dates & Corporate Actions,
PropNex News