PropNex Q3 profit down 15.2% at S$6.1m

Singapore

REAL estate agency PropNex on Wednesday posted a 15.2 per cent plunge in net profit for the fiscal third-quarter from a year ago, as it took in lower commission income, while bearing higher staff costs and depreciation expenses.

Net profit for the three months ended Sept 30, 2019 stood at S$6.1 million, compared with S$7.2 million last year. This translated to earnings per share of 1.65 Singapore cents, against earnings per share of 1.95 Singapore cents a year earlier. No dividend was declared.