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Roxy-Pacific Q1 net profit trebles to S$46.45m

ROXY-PACIFIC Holdings has posted net earnings of S$46.45 million for the first quarter ended March 31, 2015, three times the S$14.97 million net profit in the same period last year .

This was on the back of a 149 per cent jump in revenue to S$198.19 million, mainly from healthy growth in property development and property investment, which more than offset a slight drop from the hotel ownership segment.

The group's performance was "mainly boosted by Centropod's Temporary Occupation Permits obtained in January this year; and the joint-venture projects through partnerships that we have formed with reputable industry players", said Teo Hong Lim, executive chairman and CEO of Roxy-Pacific.

Earnings per share rose to 3.89 cents for Q1 FY2015 from 1.25 cents in Q1 FY2014. Net asset value per share stood at 37.33 cents as at March 31, 2015, up from 33.54 cents at Dec 31, 2014. The counter closed unchanged at 52.5 cents on Tuesday. Roxy-Pacific released its results after the stock market closed.