PropNex Q4 Profit up 24.5% to S$17.8 Million; Proposes 1-for-1 Share Issuance

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PropNex Q4 Profit up 24.5% to S$17.8 Million; Proposes 1-for-1 Share Issuance

The Business Times2023-04-28

PropNex on Tuesday (Feb 28) posted a net profit of S$17.8 million for the fourth quarter ended Dec 31, 2022, a 24.5 per cent year-on-year gain from S$14.3 million.Revenue for the quarter grew 23.3 per...

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Andarian
·2023-04-28
So is this news about the stock split or about the profit? Thought the profit for Q4 is old news?
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Troytan
·2023-04-28
Share your opinion about this news…
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Up to 370 million new shares would be issued under the proposal.In doing so, the company seeks to broaden accessibility to more investors and encourage trading liquidity.A circular with more information will be sent to shareholders in due time, said PropNex.Meanwhile, the property group posted a 3.9 per cent improvement in net profit for FY2022 at S$62.4 million, from S$60 million for FY2021.Revenue rose 7.5 per cent to S$1 billion, from S$957.5 million.PropNex said its FY2022 results were supported by a strong growth in full-year commission income, largely due to the robust residential resale and rental market in 2022.“Looking forward, we believe that buying interest will continue to remain resilient, as seen by the successful launch of Sceneca Residences early this year and with a healthy pipeline of new launches expected in 2023,” said Ismail Gafoor, co-founder, executive chairman and chief executive of PropNex.PropNex shares closed 1.8 per cent or S$0.03 higher to S$1.73 on Monday.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9947135344,"gmtCreate":1682658604288,"gmtModify":1682658608605,"author":{"id":"3575034124594582","authorId":"3575034124594582","name":"Andarian","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":1},"htmlText":"So is this news about the stock split or about the profit? Thought the profit for Q4 is old news?&nbsp;","listText":"So is this news about the stock split or about the profit? Thought the profit for Q4 is old news?&nbsp;","text":"So is this news about the stock split or about the profit? Thought the profit for Q4 is old news?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947135344","repostId":1101669242,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9947133918,"gmtCreate":1682652641435,"gmtModify":1682652645677,"author":{"id":"3571482048865852","authorId":"3571482048865852","name":"Troytan","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947133918","repostId":1101669242,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":16,"commentSize":0,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}