Fair value loss hits Oxley; Q2 net profit falls 45% to S$68 million

FAIR value loss of nearly S$17 million on financial instruments arising from marked-to-market positions took a toll on results for Oxley Holdings in its second quarter.

Net profit dived 45 per cent to S$68 million from the previous year, the group said in a Singapore Exchange filing on Thursday evening.

For the three months ended Dec 31, revenue tumbled 33 per cent to S$406.1 million from the previous year.

Earnings per share dropped to 2.1 Singapore cents, from 3.84 Singapore cents in the year-ago period.

Net asset value per share edged up to 36.16 Singapore cents as at Dec 31, 2017, from 35.71 Singapore cents in six months ago.

Oxley has declared an interim dividend of 0.72 Singapore cents per share, compared with 0.5 Singapore cent in the preceding year.

The developer also proposed a bonus issue of new shares on the basis of one bonus share for every five existing shares held.

Oxley Holdings shares ended half a Singapore cent higher at S$0.67 on Thursday.