Roxy-Pacific Holdings, the homegrown specialty property and hospitality group, today reported net profit growth of 8% to $17.7 million for the second quarter ending June 30, 2012 (2Q2012) from the quarter ending June 30, 2011 (2Q2011).
This was achieved on the back of a 13% increase in topline to $52.7 million in 2Q2012 from $46.7 million in 2Q2011.
The increase in turnover was mainly due to higher revenue from the Property Development and Hotel Ownership segments. The group’s gross profit margin also improved by 6 percentage points to 39% on the back of an increase in gross profit margins from Property Development and Property Investment segments.
Excluding fair value gains, the group’s pre-tax profits surged 74% from $7.6 million in 2Q2011 to $13.3 million in 2Q2012.
As at June 30, 2012, the group remains well positioned with healthy balance sheet and strong cash and cash equivalents of $224.7 million.
The Board has decided to declare its first interim dividend (one-tier tax exempt) since its IPO in 2008 of 0.67 cents per share.
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