Oxley Holdings posts lower net profit for Q1 FY19

DEVELOPER Oxley Holdings' first-quarter net profit sank 83 per cent year on year to S$8.06 million.

Revenue was 45 per cent lower at S$170.3 million due to softer revenue contributions from projects in the United Kingdom and Singapore. Earnings per share for the three months ended Sept 30 fell to 0.2 Singapore cent, down from 1.26 cents previously.

In an update, the group said that it launched Kent Ridge Hill Residences for sale over the weekend, with 116 units out of the 250 units released sold. The average price of the units sold was S$1,700 per square foot. Eighty per cent of the units sold comprised one-bedroom/one-bedroom plus study and two-bedroom units. The remaining 20 per cent were three-bedroom units, penthouses and strata houses. Eighty per cent of the buyers are Singaporeans while the remaining 20 per cent are permanent residents and foreigners. 

The 548-unit Kent Ridge Hill Residences is a five-storey residential development at South Buona Vista Road. 

The counter closed at 30.5 Singapore cents, down half a cent, on Monday.