Shares of UOL, PropNex surge 5% following H1 results

Shares of Singapore Exchange (SGX)-listed real estate companies in Singapore such as UOL Group and PropNex rose by more than 5 per cent in early trade on Thursday (Aug 14), after the release of their financial results for the first half of this year ended Jun 30.

UOL surged by more than 6 per cent to S$7.63 as at 9.04 am, before easing to S$7.58 at 9.43 am. By 10.32 am, the counter was up 5 per cent or S$0.36 at S$7.52, after 3.4 million securities changed hands.

The property conglomerate on Wednesday posted a 58 per cent rise in net profit to S$205.5 million for H1 FY2025, on the back of strong performances from property development and property investments, and further gains from the disposal of Parkroyal Yangon.

Its earnings per share for the period stood at S$0.2433, up from S$0.1543in H1 2024. Revenue for H1 FY2025 was S$1.55 billion, up 22 per cent from S$1.27 billionin the same year-ago period, largely due to higher earnings across most business segments.

Meanwhile, PropNex rose to S$1.90 as at 9.04 am, and reached an intra-day high of S$1.97 at 9.40 am, up by more than 4.2 per cent. By 10.36 am, shares of PropNex were trading 4.3 per cent higher at S$1.93, before declining to S$1.91 at 10.38 am, still up 3.2 per cent or S$0.06, after 3.5 million securities changed hands.

The real estate agency on Tuesday reported record net profit of S$42.3 million for its first half-year ended Jun 30, a 122.4 per cent increase from S$19 million the year before.

Revenue also surged 73.3 per cent to S$598.9 million from S$345.6 million in the previous corresponding period. Earnings per share stood at S$0.0571, up from S$0.0257 before.

The company said its performance was driven by a 7 per cent increase in sales and leasing transactions, when the number of new units sold in Singapore in H1 more than doubled to 4,587 units from 1,889 units before, while resale private homes transacted increased 11.1 per cent to 7,212 units.