PropNex did better in the more recent 2HFY2023, with earnings of $25.7 million versus $22.1 million recorded in 1HFY2023.
PropNex's executive chairman and CEO Ismail Gafoor describes a tougher environment no thanks to the combination of higher rates, cooling measures and macroeconomic uncertainties.
"This subdued demand was reflected by new private home sales falling to a 15-year low in 2023 even though substantially more units were launched.
"I believe our FY2023 performance was resilient in this context," he adds.
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According to PropNex, it captured an overall 62.5% share of the private new launches, private resale and HDB resale segments.
"This achievement was underpinned by the size and productivity of our sales force, the largest in Singapore, and our fortified leadership team,” he adds.
PropNex shares closed at 90 cents on Feb 27, up 2.29% for the day.
