APAC Realty, better known as the leading property agency franchise under the ERA brand, has doubled both its earnings and revenue for the 1HFY2021 ended June 30, thanks to better showing for both the new sale and resale market segments.
Revenue jumped 107.4% y-o-y to $358.4 million, while earnings surged 121.0% in the same period to hit just over $17 million.
See also: Jack Chua steps down as CEO of APAC Realty, COO Marcus Chu to take over
Executive chairman Jack Chua (picture, right) says that the company improved its market share for new home sales from 27.91% a year ago to 32.1%.
“Whilst market conditions remained conducive with strong local buyer demand and a favourable interest rate environment, our good performance is credited to the commitment and dedication of our future-ready ERA trusted advisors,” says Chua.
“Equipped with the latest ERA digital technologies, professional development and real estate data analytics, our trusted advisors continue to ensure our position as the preferred marketing agency for new home launches amongst leading developers,” he adds.
Marcus Chu, recently promoted CEO of APAC Realty, says that the company has secured mandates to help developers market 25 projects with a total of more than 9,000 units to be launched this year.
To reward shareholders, APAC Realty plans to pay an interim dividend of 3.5 cents per share, plus a special dividend of 3 cents, for a total of 6.5 cents, representing a payout ratio of 73%.
This time last year, the company’s interim dividend was 0.75 cents.
The company is also putting in place a dividend policy of distributing between 50 and 80% of its earnings every half a year, subject to various factors such as level of cash, results and near term capital needs.
For more stories about where the money flows, click here for our Capital section
In addition, APAC Realty is giving a special one-month bonus for all its employees next month.
APAC Realty shares closed Aug 12 at 82 cents, down 1.21% for the day but up 85.23% year to date.
