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Oxley sparkles in Q3, thanks to projects and one-time gain

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HOMEGROWN property developer Oxley Holdings saw its net profit climb over 200 per cent in the third quarter, thanks to revenue recognition from eight of its projects, a S$25.7 million gain on the disposal of a long-term investment in Japan and rental income from its investment properties.

HOMEGROWN property developer Oxley Holdings saw its net profit climb over 200 per cent in the third quarter, thanks to revenue recognition from eight of its projects, a S$25.7 million gain on the disposal of a long-term investment in Japan and rental income from its investment properties.

Its net profit surged to S$72.3 million for the three months ended March 31, 2016, from S$22.7 million the year before. Taking out sums attributable to non-controlling interests, Oxley's performance was even more impressive. Its net profit attributable to shareholders surged 329 per cent to S$51.2 million, from S$11.9 million the year before.

Its revenue for the period climbed 33 per cent year-on-year to S$202.6 million.

Oxley shares closed at S$0.445, up 1.5 cents.