PropNex Q1 2021 Earnings

NET PROFIT AFTER TAX DOUBLES: S$16.2 MILLION

PropNex Limited, Singapore’s largest listed real estate agency, reported a 96.7% growth in net profit after tax for the first quarter ended 31 March 2021 to S$16.2 million, on the back of a 63.3% growth in revenue to S$220.6 million.

While the first quarter typically sees a lower transaction volume for the real estate market as a result of the festive period and the Lunar New Year holidays, the performance of the market in 1Q2021 had been encouraging.

Mr. Ismail Gafoor, co-founder, Executive Chairman and CEO of PropNex, said: “I am heartened to say that the Group turned in an extremely strong quarter, with excellent performance across all businesses. We witnessed a rise in our market share across the three segments of new launches, private resale and HDB resale, which allowed us to achieve growth in our top and bottom-line. PropNex’s key pillars of a unique corporate culture, proprietary training and development programmes, and unstinting investment in digital technologies continued to serve us well."

Special thank you to our clients and stakeholders for their trust in our salesforce, as we help to find their dream home and embark on the investment journey together.

For more, read here:

https://investor.propnex.com/news.html/id/2333337

Business Times

https://www.businesstimes.com.sg/.../propnex-q1-profit...

The Edge Singapore:

https://www.theedgesingapore.com/.../propnex-earnings...

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