APAC Realty

APAC Realty earnings down 68% y-o-y to $7.6 million for 9MFY2023 - THE EDGE SINGAPORE

Results

APAC Realty earnings down 68% y-o-y to $7.6 million for 9MFY2023

Compared to last year, transaction volumes for new homes, private resale and rental, and HDB rental have all declined.

Broker's Calls

CGS-CIMB lowers APAC Realty's TP to 57 cents following higher cost projections

APAC Realty’s overseas division would likely continue to show a small loss for the rest of FY2023.

Company in the news

APAC Realty expands operations in Australia

The agreement is for an initial term of 15 terms commencing from Sept 1.

Broker's Calls

APAC Realty's 70% decrease in earnings for 1HFY2023 has analysts lowering their TPs

CGS-CIMB reiterates “add”, while RHB has maintained “neutral”, both with lower TPs of 70 cents and 54 cents respectively.

Results

APAC Realty reports 1HFY2023 earnings of $5 million, maintains 40% market share

APAC Realty plans to pay an interim dividend of 1.1 cent
APAC Realty fails to to meet DBS's revenue expectations, TP lowered to 57 cents - THE EDGE SINGAPORE

Broker's Calls

APAC Realty fails to to meet DBS's revenue expectations, TP lowered to 57 cents

APAC Realty 1QFY2023 ended in March 31 revenue was 29% down y-o-y at $121.4 mil, and net earnings plunged 67% y-o-y to $3 mil.

Results

APAC Realty reports 1QFY2023 earnings of $3.0 mil, 67% lower y-o-y

As at May 9, the group had over 8,700 agents representing around 25% of the market share in terms of agent count in Singapore.
CDL, UOL could be most adversely affected by new property cooling measures among developers: CGS-CIMB - THE EDGE SINGAPORE

Property

CDL, UOL could be most adversely affected by new property cooling measures among developers: CGS-CIMB

The analyst cites CapitaLand Investment as her top pick as it would be the least impacted by the new measures.

Broker's Calls

Analysts positive on APAC Realty following robust project pipeline and future growth drivers

APAC Realty's 2HFY2023 could be stronger with more new launches expected to be rolled out.
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