APAC Realty, which owns the ERA property agency here, reported earnings of $16.3 million for the financial year ended Dec 31, 2020, up 17.8% over the preceding FY2019. Revenue in the same period was $395.1 million, up 6.9% y-o-y.
APAC Realty is proxy to strong residential volumes, notes RHB Group Research analyst Vijay Natarajan, as new home sales here hit an eight year high in January.
Natarajan is maintaining “buy” on the company with a target price of 55 cents.
