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Oxley's Q4 net profit rises 70%, but full year earnings plummet 79%

Oxley Holdings saw earnings rise 70 per cent in the fourth quarter, as revenue more than doubled.

Net profit for the property developer in the three months ended June 30 stood at S$16.6 million, up from S$9.8 million a year ago. Revenue rose 134 per cent to S$193.8 million as progress was made in the construction of seven mixed-residential projects.

Its full year results were, however, much less rosy. With revenue falling 35 per cent to S$701.8 million, net profit also plummeted 79 per cent to S$60.9 million.

Oxley's board has proposed a final tax exempt (one-tier) dividend of 0.41 cent per share. The group said it is "cautiously optimistic" on the business outlook for the next 12 months.