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Roxy-Pacific reports 1HFY20 earnings of $2.8 mil, down 70% y-o-y

The Edge Singapore
The Edge Singapore8/11/2020 08:07 PM GMT+08  • 2 min read
Roxy-Pacific reports 1HFY20 earnings of $2.8 mil, down 70% y-o-y
The company is actively recycling its capital with a series of divestments and investments
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Roxy-Pacific Holdings has reported a 70% y-o-y drop in earnings to $2.8 million for 1HFY20. Revenue in the same period was down 16% y-o-y to $118.1 million, due to lower contributions from both its property development and hotel businesses.

The company, which owns hotels such as Grand Mercure Roxy Singapore (picture) suffered a revenue drop of 39% y-o-y to $15.1 million.

As at July 26 2020, the company’s total attributable pre-sale revenue was $454.5 million, versus $620.6 million in the year-earlier period, and will be progressively recognised from 3Q2020 to FY2023.

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