PropertyGuru Reports Fourth Quarter and Full Year 2023 Results
Revenue of
-
Total revenue grew 11% to
S$150 million in 2023 -
Adjusted EBITDA of
S$19 million in 2023, up fromS$3 million in 2022 - Active cost management resulted in a 13% Adjusted EBITDA margin in 2023, up from 2% in 2022
-
The Company anticipates full year 2024 revenue of between
S$165 million andS$180 million and Adjusted EBITDA of betweenS$22 million andS$26 million
Management Commentary
Despite less than favorable market conditions in
We continue to make proactive changes to build a sustainable, future-proofed business. Following our principle to make focused investments in our identified priorities, we have undertaken a strategic step towards re-architecting our organisation. This will ensure we have set our investment levels commensurate to the opportunity presented, with the right efficiencies to deliver scalable profitable growth for years to come.
We acknowledge that this change is not easy on everyone and extend our heartfelt gratitude to the impacted Gurus for their contributions to the Group and wish them the very best for the next chapter in their careers.
Going forward, while we anticipate ongoing macro challenges, our blueprint for success remains clear – innovate and advance through talent and technology. In 2023, we added key executives to our leadership teams, and at the start of 2024, welcomed
We remain confident about the long-term prospects for economic growth and stability in
1 Based on SimilarWeb data between
2 Please refer to non-GAAP reconciliation of net income/(loss) to Adjusted EBITDA section for more details.
As we enter 2024 and get closer to positive inflection points in
Net income in the fourth quarter of 2023 was
For the full year 2023, all our marketplaces were Adjusted EBITDA positive. There was significant Adjusted EBITDA margin growth in
Looking to 2024, we will continue to focus on expanding internal operating leverage as we look to improve profitability. We are introducing a full year 2024 revenue outlook of
Financial Highlights – Fourth Quarter and Full Year 2023
-
Total revenue increased to
S$42 million (+4%) in the fourth quarter as compared to the previous year and increased toS$150 million (+11%) year over year. -
Marketplaces revenue increased to
S$40 million (+4%) in the fourth quarter as compared to the previous year and increased toS$144 million (+10%) year over year as continued strength inSingapore helped to offset ongoing challenges inVietnam . -
Revenue by segment:
-
Singapore Marketplaces revenue increased to
S$23 million (+23%) in the fourth quarter as compared to the previous year and increased toS$86 million (+24%) year over year, as the number of agents and the Average Revenue Per Agent (“ARPA”) grew in the quarter and the year. Both fourth quarter ARPA (S$1,312 ) and full year ARPA (S$4,977 ) were up 22% compared to prior year periods, and the number of agents inSingapore was up over 100 from the third quarter of 2023 to finish the year at 16,424. The renewal rate was 75% in the quarter and 81% for the full year 2023. -
Malaysia Marketplaces revenue was flat in the quarter at
S$8 million (-0.3%) compared to the prior year quarter and increased toS$28 million (+9%) for the full year. Revenue on a Singapore Dollar basis was adversely impacted by depreciation of the Malaysian Ringgit. On a local currency basis, revenue in the fourth quarter was up 5% and revenue in 2023 was up 16%. -
Vietnam Marketplaces revenue decreased to
S$5 million (-22%) in the fourth quarter as compared to the prior year period and decreased toS$17 million (-29%) year over year, as a reduction in the number of listings was partially offset by an increase in the average revenue per listing (“ARPL”). The number of listings was 1.2 million in the fourth quarter down 26% from the fourth quarter of 2022. ARPL was up 3% toS$3.34 in the fourth quarter and was up 14% toS$3.39 for the full year. -
Fintech & Data services revenue decreased to
S$2 million (-10%) in the fourth quarter as compared to the prior year period and increased toS$6 million (+20%) year over year.
-
Singapore Marketplaces revenue increased to
-
At quarter-end, cash and cash equivalents were
S$306 million .
Information regarding our operating segments is presented below. It is noted that in 2023 the Company no longer removed the ongoing cost of being a listed entity when calculating Adjusted EBITDA. As such, the 2022 comparatives have been retrospectively adjusted accordingly.
|
For the Three Months Ended |
||||||||
|
2023 |
2022 |
YoY Growth |
||||||
|
(S$ in thousands except percentages) |
||||||||
|
|||||||||
Revenue |
41,506 |
|
40,097 |
|
3.5 |
% |
|||
Marketplaces |
39,939 |
|
38,350 |
|
4.1 |
% |
|||
|
23,094 |
|
18,805 |
|
22.8 |
% |
|||
|
4,587 |
|
5,870 |
|
-21.9 |
% |
|||
|
7,505 |
|
7,531 |
|
-0.3 |
% |
|||
Other |
4,753 |
|
6,144 |
|
-22.6 |
% |
|||
Fintech and data services |
1,567 |
|
1,747 |
|
-10.3 |
% |
|||
Adjusted EBITDA |
8,928 |
|
503 |
|
|||||
Marketplaces |
24,039 |
|
18,240 |
|
|||||
|
17,401 |
|
11,441 |
|
|||||
|
590 |
|
722 |
|
|||||
|
3,608 |
|
3,429 |
|
|||||
Other |
2,440 |
|
2,648 |
|
|||||
Fintech and data services |
(2,262 |
) |
(1,940 |
) |
|||||
Corporate* |
(12,849 |
) |
(15,797 |
) |
|||||
Adjusted EBITDA Margin (%) |
21.5 |
% |
1.3 |
% |
|||||
Marketplaces |
60.2 |
% |
47.6 |
% |
|||||
|
75.3 |
% |
60.8 |
% |
|||||
|
12.9 |
% |
12.3 |
% |
|||||
|
48.1 |
% |
45.5 |
% |
|||||
Other |
51.3 |
% |
43.1 |
% |
|||||
Fintech and data services |
-144.4 |
% |
-111.0 |
% |
|
For the Twelve Months Ended |
||||||||
|
2023 |
2022 |
YoY Growth |
||||||
|
(S$ in thousands except percentages) |
||||||||
|
|
|
|
||||||
Revenue |
150,135 |
|
135,925 |
|
10.5 |
% |
|||
Marketplaces |
144,068 |
|
130,861 |
|
10.1 |
% |
|||
|
85,988 |
|
69,241 |
|
24.2 |
% |
|||
|
17,130 |
|
24,040 |
|
-28.7 |
% |
|||
|
27,740 |
|
25,388 |
|
9.3 |
% |
|||
Other |
13,210 |
|
12,192 |
|
8.3 |
% |
|||
Fintech and data services |
6,067 |
|
5,064 |
|
19.8 |
% |
|||
Adjusted EBITDA |
18,912 |
|
3,325 |
|
|
||||
Marketplaces |
83,843 |
|
63,045 |
|
|
||||
|
65,300 |
|
47,626 |
|
|
||||
|
778 |
|
5,470 |
|
|
||||
|
14,803 |
|
10,208 |
|
|
||||
Other |
2,962 |
|
(259 |
) |
|
||||
Fintech and data services |
(9,299 |
) |
(7,344 |
) |
|
||||
Corporate* |
(55,632 |
) |
(52,376 |
) |
|
||||
Adjusted EBITDA Margin (%) |
12.6 |
% |
2.4 |
% |
|
||||
Marketplaces |
58.2 |
% |
48.2 |
% |
|
||||
|
75.9 |
% |
68.8 |
% |
|
||||
|
4.5 |
% |
22.8 |
% |
|
||||
|
53.4 |
% |
40.2 |
% |
|
||||
Other |
22.4 |
% |
-2.1 |
% |
|
||||
Fintech and data services |
-153.3 |
% |
-145.0 |
% |
|
*Corporate consists of headquarters costs, which are not allocated to the segments. Headquarters costs are costs of PropertyGuru’s personnel that are based predominantly in its
Strong Category Leadership Drives Long-Term Growth Opportunities
As of
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Full Year 2024 Outlook
The Company anticipates full year 2024 revenues of between
The following near-term factors may impact the Company’s operations in 2024: further delays in the recovery of Vietnam’s property market due to consumer sentiment and access to credit; weaker than expected economic conditions in
Conference Call and Webcast Details
The Company will host a conference call and webcast on
https://propertyguru.zoom.us/webinar/register/WN_FNSna08_SGuPmen8wrMrTA
An archived version will be available on the Company’s Investor Relations website after the call at https://investors.propertygurugroup.com/news-and-events/events-and-presentations/default.aspx
3 Based on SimilarWeb data between
About
PropertyGuru.com.sg was launched in
For more information, please visit: PropertyGuruGroup.com;
4 Based on
5 Based on data between
6 Based on data between
Key Performance Metrics and Non-IFRS Financial Measures
Our priority markets comprise
Engagement Market Share is the average monthly engagement for websites owned by
Number of agents in all core markets except
Number of real estate listings is calculated as the average number of listings created monthly during the period for
Average revenue per agent (“ARPA”) is calculated as agent revenue for a period divided by the average number of agents in that period, which is calculated as the sum of the number of total agents at the end of each month in a period divided by the number of months in such period.
Number of listings in
Average revenue per listing ("ARPL”) is calculated as revenue for a period divided by the number of listings in such period.
Renewal rate is calculated as the number of agents that successfully renew their annual package during a period divided by the number of agents whose packages are up for renewal (at the end of their twelve-month subscription) during that period.
This press release also includes references to non-IFRS financial measures, namely Adjusted EBITDA, Adjusted EBITDA Margin and incremental Adjusted EBITDA over incremental revenue.
Adjusted EBITDA is a non-IFRS financial measure defined as net profit/loss for year/period adjusted for changes in fair value of preferred shares, warrant liability and embedded derivatives, finance costs, depreciation and amortization, tax expenses or credits, impairments when the impairment is the result of an isolated, non-recurring event, share grant and option expenses, loss on disposal of plant and equipment and intangible assets, currency translation profit or loss, fair value profit or loss on lease modifications and contingent consideration, business acquisition transaction and integration cost (including contingent consideration), and the cost of listing or IPO activities.
Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue.
Incremental Adjusted EBITDA over incremental revenue is calculated as the increase in Adjusted EBITDA over the period divided by the increase in revenue over the same period.
A reconciliation of net income/(loss) to Adjusted EBITDA is provided as follows. It is noted that in 2023 the Company no longer removed the ongoing cost of being a listed entity when calculating Adjusted EBITDA. As such, the 2022 comparative have been retrospectively adjusted accordingly.
|
|
For the Three Months Ended
|
||||
|
|
2023 |
|
2022 |
||
|
|
(S$ in thousands) |
||||
|
|
|
|
|
||
Net income/(loss) |
|
1,143 |
|
|
(5,224 |
) |
Adjustments: |
|
|
|
|
||
Changes in fair value of preferred shares, warrant liability and embedded derivatives |
|
(784 |
) |
|
(650 |
) |
Finance income - net |
|
(1,970 |
) |
|
(1,090 |
) |
Depreciation and amortization expense |
|
6,133 |
|
|
5,443 |
|
Reversal of impairment |
|
(6 |
) |
|
— |
|
Share grant and option expenses |
|
273 |
|
|
1,091 |
|
Other losses - net |
|
147 |
|
|
5 |
|
Business acquisition transaction and integration cost* |
|
432 |
|
|
415 |
|
Restructuring cost** |
|
110 |
|
|
— |
|
Tax expense |
|
3,450 |
|
|
513 |
|
Adjusted EBITDA |
|
8,928 |
|
|
503 |
|
|
|
For the Twelve Months Ended
|
||||
|
|
2023 |
|
2022 |
||
|
|
(S$ in thousands) |
||||
|
|
|
|
|
||
Net loss |
|
(15,269 |
) |
|
(129,193 |
) |
Adjustments: |
|
|
|
|
||
Changes in fair value of preferred shares, warrant liability and embedded derivatives |
|
(4,122 |
) |
|
(23,341 |
) |
Finance (income)/costs - net |
|
(7,320 |
) |
|
680 |
|
Depreciation and amortization expense |
|
23,905 |
|
|
21,190 |
|
Impairment |
|
5,536 |
|
|
— |
|
Share grant and option expenses |
|
5,400 |
|
|
5,524 |
|
Other losses - net |
|
2,476 |
|
|
1,471 |
|
Business acquisition transaction and integration cost* |
|
2,156 |
|
|
4,378 |
|
Legal and professional fees incurred for IPO |
|
— |
|
|
16,570 |
|
Share listing expense |
|
— |
|
|
104,950 |
|
Restructuring cost** |
|
2,183 |
|
|
— |
|
Tax expense |
|
3,967 |
|
|
1,096 |
|
Adjusted EBITDA |
|
18,912 |
|
|
3,325 |
|
*Certain amounts in the prior year have been adjusted to conform to the current year presentation.
**The restructuring cost is in regard to the phase out of the
Forward-Looking Statements
Forward-looking statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. These statements include statements regarding our future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of
All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by
Industry and Market Data
This press release contains information, estimates and other statistical data derived from third party sources and/or industry or general publications, including estimated insights from SimilarWeb and
PROPERTYGURU GROUP LIMITED AND ITS SUBSIDIARIES |
||||||||
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) |
||||||||
|
For the Three Months Ended
|
For the Twelve Months
|
||||||
|
2023 |
2022** |
2023 |
2022** |
||||
|
(S$ in thousands, except share and per share data) |
|||||||
|
|
|
|
|
||||
Revenue |
41,506 |
40,097 |
150,135 |
135,925 |
||||
Other income |
2,758 |
1,334 |
8,720 |
2,787 |
||||
Other gains - net |
637 |
644 |
1,646 |
21,870 |
||||
|
|
|
|
|
||||
Expenses |
|
|
|
|
||||
Sales commission |
(2,802) |
(2,694) |
(9,131) |
(11,163) |
||||
Referral fees |
(529) |
(665) |
(2,286) |
(2,201) |
||||
Merchant fees |
(685) |
(508) |
(3,294) |
(2,444) |
||||
Awards and events costs |
(1,804) |
(1,856) |
(3,957) |
(3,255) |
||||
Advertising and platform fees |
(1,063) |
(1,154) |
(2,759) |
(3,004) |
||||
Salary and staff costs |
(14,954) |
(17,004) |
(72,971) |
(71,170) |
||||
Marketing expenses |
(5,786) |
(4,737) |
(15,446) |
(16,760) |
||||
Technology expenses |
(3,332) |
(3,250) |
(13,163) |
(11,398) |
||||
Legal and professional |
(1,289) |
(3,003) |
(6,194) |
(7,596) |
||||
Share grant and option expenses |
(273) |
(1,091) |
(5,400) |
(5,524) |
||||
Depreciation and amortization |
(6,133) |
(5,443) |
(23,905) |
(21,190) |
||||
Reversal of impairment/(Impairment) loss on financial assets |
642 |
(1,222) |
123 |
(1,139) |
||||
Reversal of impairment/(Impairment) of intangible assets |
6 |
— |
(5,463) |
— |
||||
Impairment of plant, equipment and right-of-use assets |
— |
— |
(73) |
— |
||||
Finance cost |
(212) |
(145) |
(578) |
(2,396) |
||||
Legal and professional fee incurred for IPO |
— |
— |
— |
(16,570) |
||||
Share listing expense |
— |
— |
— |
(104,950) |
||||
Other expenses |
(2,094) |
(4,014) |
(7,306) |
(7,919) |
||||
Total expenses |
(40,308) |
(46,786) |
(171,803) |
(288,679) |
||||
Profit/(Loss) before income tax |
4,593 |
(4,711) |
(11,302) |
(128,097) |
||||
Tax expense |
(3,450) |
(513) |
(3,967) |
(1,096) |
||||
|
|
|
|
|
||||
Net income/(loss) for the period |
1,143 |
(5,224) |
(15,269) |
(129,193) |
||||
Other comprehensive loss: |
|
|
|
|
||||
Items that may be reclassified subsequently to profit or loss: |
|
|
|
|
||||
Currency translation differences arising from consolidation |
(14,231) |
(29,615) |
(20,952) |
(19,703) |
||||
Items that will not be reclassified subsequently to profit or loss: |
|
|
|
|
||||
Actuarial loss from post-employment benefits obligation |
— |
(13) |
— |
(15) |
||||
Other comprehensive loss for the period, net of tax |
(14,231) |
(29,628) |
(20,952) |
(19,718) |
||||
Total comprehensive loss for the period |
(13,088) |
(34,852) |
(36,221) |
(148,911) |
||||
|
|
|
|
|
||||
Earnings/(loss) per share for income/(loss) attributable to equity
|
|
|
|
|
||||
Basic earnings/(loss) per share for the period |
0.01 |
(0.03) |
(0.09) |
(0.84) |
||||
|
|
|
|
|
||||
Diluted earnings/(loss) per share for the period |
0.01 |
(0.03) |
(0.09) |
(0.84) |
**Certain amounts in the prior year have been reclassified to conform to the current year presentation and re-presented to reflect the remeasurement period adjustments, as required by IFRS 3, in respect of updates to the accounting for the acquisition of Sendtech in
PROPERTYGURU GROUP LIMITED AND ITS SUBSIDIARIES |
||||||||
UNAUDITED CONSOLIDATED BALANCE SHEETS |
||||||||
|
|
As of |
|
As of |
||||
|
|
(S$ in thousands) |
||||||
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|
||
ASSETS |
|
|
|
|
|
|
||
Current assets |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
|
306,398 |
|
|
|
309,233 |
|
Trade and other receivables |
|
|
15,810 |
|
|
|
18,145 |
|
|
|
|
322,208 |
|
|
|
327,378 |
|
Non-current assets |
|
|
|
|
|
|
||
Trade and other receivables |
|
|
2,677 |
|
|
|
4,559 |
|
Intangible assets* |
|
|
378,178 |
|
|
|
393,636 |
|
Plant and equipment |
|
|
1,691 |
|
|
|
2,535 |
|
Right-of-use assets |
|
|
8,414 |
|
|
|
11,475 |
|
|
|
|
390,960 |
|
|
|
412,205 |
|
Total assets* |
|
|
713,168 |
|
|
|
739,583 |
|
LIABILITIES |
|
|
|
|
|
|
||
Current liabilities |
|
|
|
|
|
|
||
Trade and other payables |
|
|
26,637 |
|
|
|
29,737 |
|
Lease liabilities |
|
|
4,222 |
|
|
|
4,104 |
|
Deferred revenue |
|
|
61,066 |
|
|
|
50,753 |
|
Provisions |
|
|
148 |
|
|
|
280 |
|
Current income tax liabilities |
|
|
4,019 |
|
|
|
4,302 |
|
|
|
|
96,092 |
|
|
|
89,176 |
|
Non-current liabilities |
|
|
|
|
|
|
||
Trade and other payables |
|
|
518 |
|
|
|
296 |
|
Lease liabilities |
|
|
5,352 |
|
|
|
8,339 |
|
Deferred income tax liabilities* |
|
|
4,981 |
|
|
|
2,038 |
|
Provisions |
|
|
764 |
|
|
|
672 |
|
Warrant liabilities |
|
|
649 |
|
|
|
4,775 |
|
|
|
|
12,264 |
|
|
|
16,120 |
|
Total liabilities* |
|
|
108,356 |
|
|
|
105,296 |
|
|
|
|
|
|
|
|
||
Net assets* |
|
|
604,812 |
|
|
|
634,287 |
|
|
|
|
|
|
|
|
||
SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
||
Capital and reserves attributable to equity holders of the Group |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
Share capital |
|
|
1,094,543 |
|
|
|
1,081,320 |
|
Share reserve |
|
|
11,215 |
|
|
|
17,692 |
|
Capital reserve |
|
|
785 |
|
|
|
785 |
|
Translation reserve |
|
|
(37,913 |
) |
|
|
(16,961 |
) |
Accumulated losses* |
|
|
(463,818 |
) |
|
|
(448,549 |
) |
Total Shareholders' Equity* |
|
|
604,812 |
|
|
|
634,287 |
|
*Certain amounts in the prior year have been re-presented to reflect the remeasurement period adjustments, as required by IFRS 3, in respect of updates to the accounting for the acquisition of Sendtech in
PROPERTYGURU GROUP LIMITED AND ITS SUBSIDIARIES |
||||||
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||
|
For the Twelve Months Ended |
|||||
|
2023 |
2022 |
||||
|
(S$ in thousands) |
|||||
|
|
|
||||
Cash flows from operating activities |
|
|
||||
Loss for the period* |
(15,269 |
) |
(129,193 |
) |
||
Adjustments for: |
|
|
||||
- Tax expense* |
3,967 |
|
1,096 |
|
||
- Employee share grant and option expense |
4,859 |
|
3,856 |
|
||
- Non-executive director share grant and option expense |
541 |
|
1,848 |
|
||
- Depreciation and amortization* |
23,905 |
|
21,190 |
|
||
- Impairment of intangible assets |
5,463 |
|
— |
|
||
- Impairment of plant, equipment and right-of-use assets |
73 |
|
— |
|
||
- Loss on disposal of plant and equipment and intangible assets |
33 |
|
101 |
|
||
- Gain on lease modification |
(26 |
) |
(194 |
) |
||
- (Reversal of impairment)/Impairment loss on financial assets* |
(123 |
) |
1,139 |
|
||
- Interest income |
(7,898 |
) |
(1,716 |
) |
||
- Finance cost |
578 |
|
2,396 |
|
||
- Unrealised currency translation loss |
1,801 |
|
2,384 |
|
||
- Fair value gain on warrant liabilities |
(4,122 |
) |
(23,341 |
) |
||
- Share listing expense |
— |
|
104,950 |
|
||
|
13,782 |
|
(15,484 |
) |
||
Change in working capital, net of effects from acquisition |
|
|
||||
and disposal of subsidiaries: |
|
|
||||
- Trade and other receivables |
4,892 |
|
(3,239 |
) |
||
- Trade and other payables |
(2,946 |
) |
(7,415 |
) |
||
- Deferred revenue |
10,313 |
|
3,371 |
|
||
Cash provided by/(used in) operations |
26,041 |
|
(22,767 |
) |
||
Interest received |
7,347 |
|
1,704 |
|
||
Income tax paid |
(1,056 |
) |
(1,586 |
) |
||
Net cash provided by/(used in) operating activities |
32,332 |
|
(22,649 |
) |
||
|
|
|
||||
Cash flows from investing activities |
|
|
||||
Acquisition of a subsidiary |
— |
|
(2,234 |
) |
||
Additions to plant and equipment |
(783 |
) |
(1,431 |
) |
||
Additions of intangible assets |
(25,314 |
) |
(22,179 |
) |
||
Proceeds from disposal of plant and equipment |
— |
|
31 |
|
||
Net cash used in investing activities |
(26,097 |
) |
(25,813 |
) |
||
|
|
|
||||
Cash flows from financing activities |
|
|
||||
Interest paid |
(546 |
) |
(2,214 |
) |
||
Principal payment of lease liabilities |
(4,306 |
) |
(4,324 |
) |
||
Repayment of borrowings |
— |
|
(17,057 |
) |
||
Proceeds from reorganisation |
— |
|
142,145 |
|
||
Proceeds from the shares issued to PIPE investors |
— |
|
178,653 |
|
||
Transaction cost in relation to issuance of PIPE shares |
— |
|
(7,664 |
) |
||
Proceeds from issuance of ordinary shares |
527 |
|
1,733 |
|
||
Net cash (used in)/provided by financing activities |
(4,325 |
) |
291,272 |
|
||
|
|
|
||||
Net increase in cash and cash equivalents |
1,910 |
|
242,810 |
|
||
|
|
|
||||
Cash and cash equivalents |
|
|
||||
Beginning of the twelve months ended 31 December |
309,233 |
|
70,236 |
|
||
Effects of currency translation on cash and cash equivalents |
(4,745 |
) |
(3,813 |
) |
||
End of the twelve months ended 31 December |
306,398 |
|
309,233 |
|
*Certain amounts in the prior year have been re-presented to reflect the remeasurement period adjustments, as required by IFRS 3, in respect of updates to the accounting for the acquisition of Sendtech in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240229847316/en/
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