Roxy-Pacific Q1 profit up 19% despite drop in revenue

Singapore

PROPERTY and hospitality group Roxy-Pacific Holdings has posted on Monday a 19 per cent increase in first quarter net profit to S$7 million from S$5.9 million in the same period a year ago, because of a jump in the share of results of associates.

For the three months ended March 31, revenue however tumbled 29 per cent year on year to S$46.4 million.