[SINGAPORE] Real estate agency PropNex reported a record net profit of $42.3 million for its first half year ended June 30, more than double from the year ago period.
The 122.4 per cent rise from S$19 million in the first half of 2024 comes as its revenue jumped 73.3 per cent to S$598.9 million from S$345.6 million in the previous corresponding period, based on the company’s financial results released on Tuesday (Aug 12).
The higher revenue for the period was driven by PropNex salespersons completing a 7 per cent year on year increase in sales and leasing transactions, said the company.
More than twice the new units were sold in the first half of 2025 at 4,587 units, up from 1,889 units in the first half of 2024. Resale private homes saw an 11.1 per cent rise to 7,212 units transacted, up from 6,491 units in H1 2024. However, resale HDB flats clocked in 5 per cent lower at 13,692 units, down from 14,420.
PropNex’s earnings per share stood at S$0.0571 for the half year, up from S$0.0257 previously.
The board proposed an interim dividend of S$0.05 per share, the highest in the company’s history. It reflects a payout ratio of 87.6 per cent of its net attributable profit with an 4.6 per cent dividend yield based on the counter’s share price as at June 30, 2025, PropNex said.
Its gross profit was also nearly doubled, up 97.9 per cent at S$66.2 million from S$33.4 million in the year-ago period.
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