Home Capital Results

Roxy-Pacific posts 40% decline in 1Q earnings to $5.9 mil on lower revenue

Michelle Zhu
Michelle Zhu5/5/2017 07:10 PM GMT+08  • 2 min read
Roxy-Pacific posts 40% decline in 1Q earnings to $5.9 mil on lower revenue
SINGAPORE (May 5): Roxy-Pacific Holdings, the property and hospitality group, has announced earnings of $5.9 million for the 1Q ended March, 40% down from $9.9 million a year ago.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 5): Roxy-Pacific Holdings, the property and hospitality group, has announced earnings of $5.9 million for the 1Q ended March, 40% down from $9.9 million a year ago.

Group revenue declined 36% to $65.4 million from $103 million previously on the back of lower contributions from the property development and hotel ownership segments, which fell 41% and 10% respectively to $51.7 million and $10.5 million over the quarter.

The decrease in revenue from property development was largely a result of lower revenue recognition from Jade Residences, Whitehaven, and absence of revenue recognition from LIV on Sophia following the completion of these projects in 4Q16 and early 2017.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.