Roxy-Pacific Holdings Limited has announced that its net profit for the fourth quarter ended 31 December 2010 reached S$12 million, up 103 percent from S$5.9 million over the same period in 2009.
This increase came on the back of an eight percent growth in revenue to S$47.5 million in Q4, mainly attributed to a five percent growth in its Property Development segment, 16 percent growth in its Hotel Owners segment and 14 percent growth in its Property Investment segment.
For the full year ended 31 December 2010, the group’s revenue rose 33 percent to S$216.9 million, from S$163.5 million over the same period in 2009. Sales from its property development segment jumped 36 percent to S$169.1 million, while its hotel ownership segment climbed 19 percent to S$44.5 million. The group’s property investment segment also improved 73 percent.
Revenue from the group’s property development hit S$35.3 million in Q4 2010, up five percent from S$33.5 million in Q4 2009. Revenue from the Hotel Ownership segment stood at S$11.4 million in Q4 2010, up 16 percent from S$9.9 million. Meanwhile, the Property Investment segment saw a two percent increase in revenue.
Mr. Teo Hong Lim, Executive Chairman and CEO of Roxy-Pacific, commented, “We are pleased to have achieved a second consecutive record year in terms of top and bottom lines. This serves as a testament to the Group’s sound fundamentals and positioning in all three business segments.”