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 121% y-o-y to $358.4 million, while earnings surged 107.4% in the same period to hit just over $17 million.
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.
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.
Read the full story and related press coverage here:
APAC Realty Newsroom: http://investor.apacrealty.com.sg/newsroom.html
APAC Realty doubles 1HFY2021 earnings, special dividend for shareholders and special bonus for staff, The Edge Singapore, 12 August 2021:
https://www.theedgesingapore.com/capital/results/apac-realty-doubles-1hfy2021-earnings-special-dividend-shareholders-and-special
APAC Realty logs 119.7% profit jump on the back of buoyant residential property market, The Business Times, Breaking News, 12 August 2021:
https://www.businesstimes.com.sg/real-estate/apac-realty-logs-1197-profit-jump-on-the-back-of-buoyant-residential-property-market
投资者观望 股市持平作收, Lianhe Zaobao, Corporate Round-up (Mention), 13 August 2021:
https://www.zaobao.com.sg/finance/singapore/story20210813-1181428
