Roxy-Pacific Q4 net profit falls 73% to S$12.34m

ROXY-PACIFIC Holdings has posted a 73 per cent drop in fourth quarter net earnings to S$12.34 million.

Revenue rose 19 per cent to S$81.39 million. However, cost of sales increased 38 per cent to S$61.49 million, resulting in a 17 per cent contraction in gross profit to S$19.90 million.

Moreover, share of results of associates (net of income tax) fell 96 per cent to S$1.92 million.

For the year ended December 31, 2015, net profit slipped 12 per cent to S$85.10 million.

Despite this, the group has proposed a final dividend of 1.297 Singapore cents, unchanged from the previous financial year.

Fourth quarter earnings per share fell to 1.03 cents from 3.90 cents in the same year-ago period. Net asset value per share stood at 38.34 cents as at end-Dec 2015, up from 33.54 cents as at end-Dec 2014. The counter ended at 49 cents on Monday.