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Roxy-Pacific 1Q has a profit surge

Vincent Chia

Roxy-Pacific Holdings Limited announced its 1Q results. 1Q revenue was up 149% year-on-year to $198.2 million while 1Q PAT was up 210% year-on-year to $46.3 million. This was attributed to the completion of a commercial development project, Centropod@Changi in Jan 2015. Going forward, Roxy-Pacific has earnings visibility of pre-sale revenue of $551.9 million. It is also prudently increasing its landbank. This includes 3 plots of land in Australia and 1 in Malaysia. The outlook for the Singapore property market is still expected to remain relatively soft this year. Roxy-Pacific is thus focused on the region and in particular Malaysia, Hong Kong, Australia, Thailand and Japan.

GET TO THE POINT : Looks like Roxy-Pacific is executing well on its regional strategy that will help it look beyond the softness of the Singapore property market.

(Picture from Roxy-Pacific Holdings Limited)

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