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APAC Realty 2Q earnings down more than half to $3.3 mil on lower brokerage income

Uma Devi
Uma Devi8/5/2019 06:18 PM GMT+08  • 2 min read
APAC Realty 2Q earnings down more than half to $3.3 mil on lower brokerage income
SINGAPORE (Aug 5): APAC Realty reported a 56.8% plunge in 2Q19 earnings to $3.3 million from earnings of $7.7 million during the same quarter last year.
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SINGAPORE (Aug 5): APAC Realty reported a 56.8% plunge in 2Q19 earnings to $3.3 million from earnings of $7.7 million during the same quarter last year.

Revenue for the group fell 29.8% to $85.7 million in 2Q19, from $122.0 million in 2Q18.

This was maintained due to a 29.2% decrease in brokerage income from resale and rental of properties to $60.5 million and a 32.9% decline in income from new home sales to $23 million.

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