Financial Results 1H2019
Highlights :
1. For 1H2019, 26% decline in revenue to $166 million, compared to $224 million in 1H2018.
2. For 1H2019, 46% decline in net profit to $6.4 million, compared to $11.7 million in 1H2018.
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11. A commentary at the date of this announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.
The sales performance of the second quarter tends to outperform the first quarter largely due to the festivities in the beginning of the year and sales momentum picking up thereafter. Due to the line-up of possibly over 26 new launches in the 2H2019 that are captivating the interest of buyers and investors, the Group expects the sales activities to continue for the remainder of the year, with momentum and demand staying resilient.
To fully capitalise on the numerous project launches this year, the Group will continuously conduct consumer seminars to articulate the opportunities to potential buyers. These consumer seminars are often conducted by the Company’s executive directors Mr Mohamed Ismail S/O Abdul Gafoore and Mr Kelvin Fong Keng Seong.
While private home prices may see a positive price growth in 2019, the Group anticipates the private resale market to be relatively subdued due to the property cooling measures as owners are postponing and holding off the decision to sell their properties.
On the public housing front, the HDB resale market is reflecting continuous demand and price stabilization."
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PropNex reports lower Q2 earnings, declares 1.25 cents dividend
Tue, Aug 13, 2019 - 6:43 PM
REAL estate agency PropNex saw its bottomline shrink in its fiscal second quarter, as it took in lower commission income while bearing higher staff costs and depreciation expenses.
Revenue for the three months ended June 30 fell 24 per cent to S$92.1 million from S$121.6 million the year before.
PropNex said this was due mainly to the decrease in commission income from agency services and project marketing services. Commission income from agency services decreased as the year-ago period saw much en bloc activity before the cooling measures took effect, which contributed to strong resale activities.
Commission income from project marketing services decreased because a significant number of option-to-purchase projects were not completed by the end of the quarter.
Meanwhile, expenses such as staff costs and depreciation of plant and equipment increased during the period.
As such, PropNex's net profit attributable to shareholders fell 12 per cent to S$3.7 million from S$4.2 million.
Earnings per share were one cent, compared to 1.36 cents the year before.
The company has declared a dividend of 1.25 cents per share for the period...
More details :
https://www.businesstimes.com.sg/compani...s-dividend
https://links.sgx.com/FileOpen/PXL%20Res...eID=574179
https://links.sgx.com/FileOpen/PXL_2Q%20...eID=574180
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