PropNex reports lower FY2023 earnings on 'subdued demand', plans final dividend of 3.5 cents

PropNex, the largest property agency here, has reported "modest" earnings of $47.8 million for FY2023, down 23.3% y-o-y. Revenue in the same period was down 18.6% to $838.1 million, amid a cooler buying sentiment and transaction volumes.

The company plans to pay a final dividend of 3.5 cents, bringing the full-year payout to 6 cents, representing a payout ratio of 92.9%.