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Oxley Holdings posts three-fold rise in Q1 net profit

Property developer Oxley Holdings posted an over three-fold jump in net profit for the first quarter ended September to S$35 million from S$10 million a year ago.

Revenue rose nearly four fold to S$434 million from S$120 million led by revenue recognition from the group's industrial property development Ecotech @ Sunview using the completion of construction method as the development received its temporary occupation permit over the quarter.

Earnings per share came in higher at 1.19 Singapore cents from 0.34 Singapore cents a year ago.

The developer has declared an interim dividend of 0.50 Singapore cent per share versus none a year ago.

Oxley shares finished one Singapore cent or 2.4 per cent lower at 41 Singapore cents on Monday.