Oxley Q4 profit dives 81% on lower revenue

Singapore

OXLEY Holdings' net profit dived 81 per cent to S$25.6 million for the fourth quarter from S$137.7 million a year ago, the property developer reported on Tuesday.

Revenue for the three months ended June 30 fell 57 per cent to S$100.4 million, mainly on lower revenue contribution from a project in the United Kingdom. Gross profit margin was 11 percentage points higher year-on-year, which the group attributed to higher margins from hotel operations, the UK project and new Singapore development projects.