PropNex tumbles 5.6% as investors take profit on news of record interim profit and dividend
The property group reports a 122.4% increase in net profit for the first half of 2025
[SINGAPORE] Shares of property group PropNex tumbled minutes after trading started on Tuesday (Aug 12), despite reporting a record half-year performance.
The counter was down nearly 5.6 per cent or S$0.09 at 9.01 am, tumbling from S$1.61 to S$1.52. It had surged over the past month and rose 8.8 per cent or S$0.13 on Monday as investors anticipated robust results amid a reinvigorated property market.
It pared most of the losses down to 1.2 per cent or S$0.02 at the mid-day trading break.
The drop comes despite the group reporting a record net profit of S$42.3 million for its first half-year ended Jun 30, more than double from the year-ago period. Its proposed interim dividend of S$0.05 a share is also the highest in its history.
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