Oxley sparkles in Q3, thanks to projects and one-time gain
HOMEGROWN property developer Oxley Holdings saw its net profit climb over 200 per cent in the third quarter, thanks to revenue recognition from eight of its projects, a S$25.7 million gain on the disposal of a long-term investment in Japan and rental income from its investment properties.
Its net profit surged to S$72.3 million for the three months ended March 31, 2016, from S$22.7 million the year before. Taking out sums attributable to non-controlling interests, Oxley's performance was even more impressive. Its net profit attributable to shareholders surged 329 per cent to S$51.2 million, from S$11.9 million the year before.
Its revenue for the period climbed 33 per cent year-on-year to S$202.6 million.
Oxley shares closed at S$0.445, up 1.5 cents.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Prudential shutters Hong Kong wealth unit Pulse
Singapore has to be realistic on global trends plaguing its stock market: DPM Wong
Google DeepMind unveils next generation of drug discovery AI model
AEM Holdings Q1 net profit tumbles 85% to S$2.4 million
World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift
JPMorgan, Nomura limit Segantii exposure on Hong Kong case