- APAC Realty (SGX:CLN)’s 3Q numbers missed our expectations. Private residential transaction volumes have been slowing down amid a pricing mismatch in a rising interest rate environment. We expect this trend to persist up until 1H24.
- - Read this at SGinvestors.io -
- The public resale and rental market is expected to stay resilient.
9M23 earnings down 68% y-o-y
- APAC Realty's 9M23 earnings down 68% y-o-y on the back of a 23% revenue decline and higher operational costs from marketing, personnel, and technology expenses, as well as losses from overseas entities.
- We cut our FY23F-25F earnings forecast for APAC Realty 22-24% by lowering transaction volume assumptions coupled with higher operational cost pressures. These are likely to persist amid a highly competitive real estate agency market landscape.
- - Read this at SGinvestors.io -
Full-year private new sales volumes to decline 10% to 20%
- Read more at SGinvestors.io.
Vijay Natarajan RHB Securities Research | https://www.rhbgroup.com/ 2023-11-14
Read also RHB's most recent report:
2024-03-08 APAC Realty - Transaction Volumes To Remain Soft.
Price targets by 2 other brokers at APAC Realty Target Prices.
Listing of research reports at APAC Realty Analyst Reports.
Relevant links:
APAC Realty Share Price History,
APAC Realty Announcements,
APAC Realty Dividends & Corporate Actions,
APAC Realty News Articles
