Roxy-Pacific Q2 net profit falls 56.7% to S$6.4m

Singapore

THE absence of revenue recognition as a result of the completion of several projects brought down second-quarter net profit of Roxy-Pacific by 56.7 per cent to S$6.4 million.

For the three months ended June 30, revenue fell 52.5 per cent to S$37 million, due to lower revenue recognition from Trilive, which got its temporary occupation permit in June 2018, and an absence of revenue recognition from Jade Residences, Whitehaven and LIV on Wilkie following their completion in 2017.