PropNex Limited's H1 2024 profit declines to $19.45m

Interim dividend stood at 2.25 cents per share.

PropNex Limited reported a 15.2% decline in profit for the first half of the year, amounting to $19.45m, according to its bourse filing.

Revenue fell by 5% to $345.58m from $364.28m last year, while its gross profit margin dropped to 9.7%.

The project marketing segment was the top revenue contributor at $91.3m (27%), followed by private resale at $79.4m (23%), and rental at $77.9m (23%). The remaining 27% were accounted for by HDB resale ($64.8m), landed resale ($16.4m), and commercial and industrial transactions ($11.3m).

The company declared an interim dividend of 2.25 cents per share.

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