Oxley Holdings' Q1 profit balloons to $250.8m

[SINGAPORE] Formerly known as the king of shoebox units, Oxley Holdings has made it to the big boys' table, with net profit for the first quarter ended September surging to a record $250.8 million, from just $6.6 million a year ago.

For the quarter under review, revenue soared to $686 million, compared with $50 million a year ago.

On the back of its sterling results, Oxley has declared an interim one-tier tax exempt cash dividend of three cents per ordinary share, compared with 0.11 cents previously. This amounts to about $88.4 million, and represents a dividend payout ratio of about 35 per cent. The date of the dividend payout will be announced at a later date.