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Roxy-Pacific's 1Q earnings up 19% to $7 mil on higher income from associates

Samantha Chiew
Samantha Chiew5/14/2018 05:42 PM GMT+08  • 2 min read
Roxy-Pacific's 1Q earnings up 19% to $7 mil on higher income from associates
SINGAPORE (May 14): Roxy-Pacific reported 1Q18 earnings increased 19% to $7.0 million, compared to $5.91 million in 1Q17.
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SINGAPORE (May 14): Roxy-Pacific reported 1Q18 earnings increased 19% to $7.0 million, compared to $5.91 million in 1Q17.

Revenue came in at $46.4 million, 29% lower than $65.4 million a year ago, mainly due to lower contribution from the Property Development and Property Investment segments, partially offset by higher revenue from Hotel Ownership segment.

Revenue from Property Development dropped 39% y-o-y to $31.8 million, largely due to lower revenue recognition from Trilive, a project at its final stage of completion, and absence of revenue recognition from Jade Residences, Whitehaven and LIV on Wilkie following the completion of these projects in 2017.

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