Singapore-listed developer Oxley Holdings has presold a large number of units in a London development to a single buyer. It said its wholly owned subsidiary, Oxley Wharf Property 2, had agreed to a forward sale of 195 units for £75.1 million (S$160 million) to L&Q PRS Co.
This block of units is intended for the private rental sector at the Royal Wharf Development and is scheduled to be completed in 2018.
L&Q is one of London's largest residential developers, owning or managing over 70,000 homes in London and the South East of London.
Raffles Medical Group
Mainboard-listed Raffles Medical Group said its net profit for the second quarter ended June 30 rose 2.2 per cent to $15.9 million.
Revenue grew 7.2 per cent to $99.3 million on contributions from all business segments. Revenue from healthcare services was up 5.7 per cent and hospital services increased by 6.6 per cent.
Staff costs rose 9.4 per cent to $48.5 million, "in tandem with higher volume of business", the firm said.
Earnings per share was flat at 2.81 cents while net asset value per share rose to 100.56 cents compared to 95.5 cents as at Dec 31.
An unchanged interim dividend of 1.5 cents a share was declared.
Mainboard-listed Aztech Group said its net profit for the second quarter ended June 30 fell 44.7 per cent compared to the same quarter a year ago, to $1 million, while revenue fell 3.7 per cent to $84 million.
Net profit for the first half of this year fell 36.4 per cent, compared to the first half of 2014, to $2.2 million. Revenue for the first half of the year fell 1.8 per cent to $169.6 million.
Net profit was lower for both the second quarter and the first half year due to the lower gross margin contribution from marine and material supply, Aztech said.
Earnings per share for the second quarter fell 44.6 per cent to 2.06 cents.
The group said it expects persistent strong headwinds from market uncertainty and currency volatility.