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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.

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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.

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