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Oxley Holdings reports higher profits for Q2

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PROPERTY developer Oxley chalked up a net profit of S$123.75 million for the second quarter ended Dec 31, 2016, up from S$47 million a year ago.

PROPERTY developer Oxley chalked up a net profit of S$123.75 million for the second quarter ended Dec 31, 2016, up from S$47 million a year ago.

Revenue rose from S$177.77 million to S$605.73 million mainly due to recognition of revenue from Oxley Tower and the handover of certain plots in The Royal Wharf (Phase 1A). Meanwhile, earnings per share for the quarter came to 4.23 Singapore cents, up from 1.59 cents a year ago.

For 1H17, net profit increased 58 per cent year on year to S$130.86 million, while revenue rose 19 per cent to S$732.19 million.

Oxley has declared an interim dividend of 0.5 Singapore cent per share, down from 0.75 cent a year ago.

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