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Oxley's Q3 profit down 12%

Property developer Oxley Holdings' net profit for the third quarter ended March 31, 2017 slumped 12 per cent year on year to S$45.7 million.

The corresponding quarter a year ago had been boosted by a S$25.7 million gain from the sale of Chiba Port Square in Japan.

Revenue for the quarter grew 91 per cent year on year to S$386.5 million mainly due to recognition of revenue from a commercial project, The Flow; sales of a mixed-residential development at Joo Chiat Road; and from the handover of certain plots in The Royal Wharf Phase 1A.

Earnings per share fell to 1.56 Singapore cents from 1.77 cents a year ago.

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