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Property development propels earnings of Roxy-Pacific

Published on May 2, 2014 8:10 PM

SINGAPORE - Roxy-Pacific Holdings reported a 29 per cent rise in first quarter net profit to $15.1 million.

Revenue for the three months to March 31 was up 48 per cent to $79.5 million.

The increase was the result of 58 per cent and 10 per cent increase in revenue from property development segment and the hotel ownership segment respectively, partly offset by a 2 per cent fall in revenue in property investment segment.

The Property Development segment, which comprises residential and commercial developments, contributed 84 per cent amounting to S$67.1 million to total group turnover.

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