Friday, August 24, 2012

Oxley sees profit rise 26%

Oxley Holdings has recorded a 26 percent profit rise to S$16.9 million for FY2012 ended 30 June despite a 73 percent drop in Q4 earnings to S$1.67 million.

The company’s revenue for Q4 stood at S$37.54 million, a 16 percent increase from the previous year while revenue doubled from S$70.85 million last year to S$159.37 million this year, brought on by the sale of all units at RV Point, Viva Vista and Parc Somme.

Oxley’s Q4 earnings per share declined from 0.42 percent in the previous year to 0.11 cents. However, full-year earnings per share exceeded last year’s 0.94 cents as it rose to 1.4 cents this year. Net asset value also climbed to 9.4 cents compared to the previous year’s 8.83 cents.

“FY2012 was a fruitful year for Oxley, in that we made significant progress in the construction of a number of projects. All residential projects that we launched were well received, as were our commercial and industrial projects,” said Executive Chairman and Chief Executive Officer Ching Chiat Kwong.

As of 23 August, Oxley has fully sold 14 of its 20 residential, industrial and commercial projects.

In the next 12 months, the company expects its property development projects and rental income from The Corporate Office at Robinson Road to contribute positively to its revenue.

View the original article here

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