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Oxley posts H2 S$296.3m net loss despite growth in gross profit

The property developer ran up other losses, which it said were mainly attributable to the pandemic

Janice Heng

Published Fri, Aug 28, 2020 · 09:50 PM

Singapore

PROPERTY developer Oxley Holdings recorded a net loss of S$296.3 million for the second half of the financial year ended June 30, on the back of other losses incurred due to the Covid-10 pandemic, in its results release on Friday after the market close.

The H2 net loss was a sharp reversal from the S$62.5 million net profit in the year-ago period, despite revenue quadrupling to S$638.9 million from a restated S$160.3 million in the year-ago period.

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