Roxy-Pacific's Q4 net profit falls 27% on lower revenue from property development

Singapore

PROPERTY group Roxy-Pacific Holdings posted a 27 per cent year-on-year drop in net profit to S$5.93 million for the fourth quarter ended 31 Dec, 2018, in line with weaker revenue.

Revenue slumped 29 per cent to S$30.83 million, mainly due to lower revenue from the property development segment owing to the absence of revenue recognition from Trilive following its TOP in June last year, as well as lower revenue from Straits Mansions following its TOP in October last year.