Singapore
LOWER turnover and thinner margins for projects sold in the second fiscal quarter, coupled with a fair value loss of nearly S$17 million on financial instruments, took a toll on Oxley Holdings' earnings.
For the three months ended Dec 31, 2017, net profit dived 45 per cent to S$68 million, while revenue tumbled 33 per cent to S$406.1 million from the previous year.
Developers' revenues tend to be lumpy due to varying project completion schedules from year to year.
Indeed, the second quarter's...