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PropNex’s FY2024 net profit drops 14.4% YoY to $40.2m

The decline was due to lower commission income from project marketing services.

PropNex reported a 14.4% year-on-year (YoY) decline in net profit of $40.2m in FY2024.

Earnings per share stood at $0.0553.

The decrease was due to a 23.4% YoY drop in commission income from project marketing services to $185.6m.

Revenue for the period also dropped 6.6% YoY to $783m from $838m in FY2023.

Meanwhile, the company proposed a final cash dividend of $0.0300 per share. With the special cash dividend of $0.0250 per share, the total dividend issued for FY2024 is $0.0775 per share.
 

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