Property firm Roxy-Pacific Holdings Limited posted substantial earnings growth across all its business segments in Q3 2012, leading to a net profit increase of 116 percent to S$8.2 million.
The group’s profit before tax, excluding fair value gains, also jumped 63 percent to S$10.7 million compared with S$6.6 million seen last year. However, revenue for Q3 stood at S$43.6 million, down two percent from S$44.4 million for the same period in 2011.
Overall gross profit margin rose to 40 percent from 36 percent last year, supported by the increase in gross profit margin from the property investment and property development segments.
Revenue for the first nine months of 2012 dipped five percent to S$134.4 million due to lower revenue contribution from the property development segment while profit before tax rose 38 percent from S$25.5 million in 2011 to S$35.1 million this year.
Similarly, net profit excluding fair value gains for the nine months stood at S$30.6 million, up 47.1 percent compared with S$20.8 million over the same period in 2011.
Meanwhile, the company announced its adoption of a dividend policy of paying dividends of at least 50 percent of the net operating profits (earnings before interest, taxes, depreciation and amortisation) in respect to its hotel business.
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