- APAC Realty and PropNex reported lower profits as property market slowed in 1H24. Given their highly cash generative businesses, both announced interim dividends (payout ratios of 78-90%), reflecting annualised yields of ~5% and 6%.
- - Read this at SGinvestors.io -
Lower results as market slows; but dividend policies keep pace with past.
- APAC Realty (SGX:CLN) and PropNex (SGX:OYY) announced their 1H24 results, which were both weak with revenues showing signs of slowing down.
- - Read this at SGinvestors.io -
- PropNex's net profit declined 15% y-o-y to S$19.0mil on the back of a 5% decline in revenues to S$345.5mil. PropNex announced a dividend of 2.25 cents, representing a payout ratio of ~88%. This is broadly similar to last year’s levels.
Market outlook.
- 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/ 2024-08-14
