Roxy-Pacific Q3 profit doubles to $16 million
Add BT as a preferred source
Kalpana Rashiwala
DeeperDive is a beta AI feature. Refer to full articles for the facts.
A STRONG showing from its Singapore property development business gave a leg up to Roxy-Pacific's third-quarter report card.
The real estate and hotel group's net profit doubled to $16.1 million for Q3 ended Sept 30, 2013, from $8.2 million net earnings in the same year-ago period. Revenue rose 76 per cent to $76.7 million.
Revenue from property development more than doubled to $64.1 million in Q3 2013 from $30 million in Q3 2012. However, revenue from hotel ownership - the group owns Grande Mercure Roxy Hotel in Marine Parade - slipped 7 per cent to $12.2 million amid the highly competitive Singapore hotel market.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
