Roxy-Pacific's Q2 net profit rises 10% to $19.5 million

Roxy-Pacific Holdings announced its second quarter net profit rose by 10 per cent to $19.5 million.

Revenue for the three months to June 30 jumped 31 per cent to $68.9 million.

Roxy-Pacific recognised higher revenue, in line with development progress of several projects: Spottiswoode 18, Jupiter 18, Space@Kovan as well as two new projects - Treescape and The MKZ.

Accordingly, turnover from the property development segment grew to 83 per cent of total group revenue, up from 76 per cent in the same period last year.

Earnings per share increased to 2.05 cents from 1.86 cents previously while net asset value per share grew to 28.9 compared 26.56 cents as at Dec 31.

An interim dividend of 0.77 cent was declared, up from 0.67 cent in the same period last year.