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Roxy-Pacific's Q2 earnings fall 26% to S$14.7m

LOWER contribution from its property development and hotel ownership segments took a toll on results for Roxy-Pacific Holdings for its second quarter.

Net profit tumbled 26 per cent to S$14.7 million from the previous year, the group said in a Singapore Exchange filing on Monday evening.

For the three months ended June 30, revenue dropped 21 per cent to S$77.8 million from the year-ago period.

The decrease in revenue was largely due to lower revenue recognition from Jade Residences, Whitehaven and absence of revenue recognition from LIV on Sophia, it said.

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Earnings per share dropped to 1.24 Singapore cents from 1.67 Singapore cents in the preceding year.

Net asset value per share crept up to 42.21 Singapore cents as at June 30, from 41.2 Singapore cents six months ago.

Dividend per share stood at 0.214 Singapore cent, compared to 0.503 Singapore cent in the corresponding period of the previous year.

Roxy shares ended S$0.01 or 1.9 per cent lower at S$0.525 on Monday.