Oxley posts full-year net profit of S$49.5m, reversing last year’s losses

Property developer Oxley Holdings has posted a net profit of S$49.5 million for the full year ended June 30, reversing from a loss of S$275.1 million in the previous year.

The company’s revenue jumped 58 per cent to S$781.9 million in the first six months of 2021, bringing full-year revenue to S$1.4 billion – a 33 per cent increase compared with the preceding financial year, according to Oxley’s interim financial statements.

This was mainly due to higher revenue from its projects in Cambodia, Singapore and Ireland, which partially offset lower revenue from its project in the United Kingdom, the mainboard-listed company said.

In full: https://www.businesstimes.com.sg/companies-markets/oxley-posts-full-year-net-profit-of-s495m-reversing-last-years-losses

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