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PropNex earnings for 1Q21 nearly doubles to $15 mil on better transaction volume

Atiqah Mokhtar
Atiqah Mokhtar5/11/2021 07:26 AM GMT+08  • 2 min read
PropNex earnings for 1Q21 nearly doubles to $15 mil on better transaction volume
EPS jumped 95.6% y-o-y to 4.01 cents, from 2.05 cents previously.
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Real estate agency PropNex has posted earnings of $14.8 million for the 1QFY2021 ended March, almost double the $7.6 million recorded the year before.

Earnings per share (EPS) jumped 95.6% y-o-y to 4.01 cents, from 2.05 cents previously.

The higher earnings come as revenue for the period surged 63.3% higher y-o-y to $220.6 million, which the group attributes to improved market sentiment, resulting in strong take-up of new project launches and a higher number of transactions. PropNex’s commission income from agency services grew by $47.5 million, while income from project marketing services grew some $38 million.

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