Apac Realty's H1 net profit more than doubles to S$11.3 million on higher home sales
This was driven by 'robust activity' in the new private residential segment, which resulted in higher home sales, said the company in an earnings statement on Friday (Aug 8).
Developers sold 5,566 private residential units – including executive condominiums – during the half-year period, compared to 2,484 units the year before.
This resulted in new home sales revenue more than doubling to S$131.2 million, compared to S$57.9 million a year ago.
Resale and rental revenue held steady, rising to S$206.7 million, from S$203.6 million the previous year.
Total revenue for the period rose 28.8 per cent to S$341.5 million, from S$265.2 million in the year-ago period.
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Earnings per share stood at 3.14 Singapore cents for the half-year period, up from 1.15 cents before.
An interim dividend of 2.7 Singapore cents per share was declared for the half-year, up from 0.9 cent before. The dividend will be paid on Sep 5, after books closure on Aug 29.
Apac Realty said the uptick in Singapore's private home market momentum is expected to sustain into the second half of 2025 and 2026, as the government is expected to sustain a 'high level' of private housing supply.
Given this, the company is expected to maintain its 'positive trajectory' for the rest of the year and beyond, said chief executive officer Marcus Chu.
'Our strategic focus continues to centre on empowering our agents to effectively capture market opportunities and deliver long-term value to clients and shareholders.'
Shares of Apac Realty closed S$0.01 or 1.6 per cent higher at S$0.635 on Friday.
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