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APAC Realty Q2 net falls 57% on sharply lower brokerage income

Aug 06, 2019 - The Business Times Singapore
Financial Results

APAC Realty, Singapore's largest real estate agency, posted a net profit of S$3.3 million in the second quarter, down 56.8 per cent from the same period a year earlier.

Revenue from real estate brokerage fees and related services fell 30 per cent to S$85 million in the three months ended June 30.

This was due mainly to the 29.2 per cent decrease in brokerage income from resale and rental of properties to S$60.5 million. Brokerage income from new home sales fell 32.9 per cent S$23 mil...