Roxy-Pacific nearly quadruples full-year net profit to S$19.3m

Mainboard-listed Roxy-Pacific has nearly quadrupled its full-year net profit to S$19.3 million in its maiden results since going public.

The specialty property and hospitality group is crediting this to the strong property market and robust tourism industry.

Revenue more than doubled to about S$103 million.

Looking ahead, Roxy-Pacific said it is optimistic about the Singapore property market and intends to launch eight residential projects with some 290 units in Financial Year 2008.

These will be targeted at the mid-tier and mass market segments.

The company expects its hotel operations to do well because of the robust outlook of the Singapore tourism industry.

Barring any unforeseen circumstances, the company expects its Financial Year 2008 earnings to be comparable to the previous year’s.

Roxy-Pacific has proposed a final cash dividend of one cent per share. – CNA/ms

Source : Channel NewsAsia – 19 Mar 2008

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