PropNex (OYY) H1 2026 TU earnings summary

Executive summary

• Revenue for 1H2026 rose 0.7% year-over-year to $603.0 million, with net profit declining 4.4% to $43.5 million and EPS down 3.1% to 5.53 cents.

• Gross profit margin slipped to 10.6% from 11.0% in 1H2025, reflecting higher cost of services rendered.

• Interim dividend of 5.00 cents per share declared, maintaining a payout ratio above policy at 92.9%.

• Maintained strong cash position with $133 million in cash and long-term deposits as of 30 June 2026.

Financial highlights

• Operating cash flow decreased to $33.2 million from $45.3 million in 1H2025; net cash decreased by $18.9 million.

• Net asset value per share increased to 16.73 cents from 15.69 cents at end-2025.

• Market capitalisation stood at $1.35 billion as of 3 August 2026.

• Dividend payout has consistently exceeded the 75–80% policy since FY2022.

Outlook and guidance

• Home prices expected to grow 3–4% for private residential and up to 1% for HDB resale in 2026.

• Transaction volumes forecasted at 9,000 private new sales, 14,000–15,000 private resale, and 26,000–27,000 HDB resale units for 2026.

• Over 9,000 new private residential units to be launched in 2026, with a robust pipeline of projects.

• Removal of the 15-month wait-out period for private homeowners buying HDB resale flats expected to support demand.