Oxley Holdings presents sparkling quarterly, half year profits
NICHE developer Oxley Holdings' net profit in the second quarter more than doubled to $25.1 million from $11.4 million.
Revenue for the three months to Dec 31 rose by 238 per cent to $202.2 million.
The sharp rise was mainly driven by revenue recognition, based on completion of construction method, from the group's 131-unit commercial and industrial development, The Commerze@Irving.
Revenue was also recognised from progress made in the construction of 12 mixed-residential projects including Viva Vista, RV Point, Loft@Holland, Devonshire Residences and NEWest.