Roxy-Pacific’s 2Q earnings up 53% to $19.9 mil

SINGAPORE (July 29): Roxy-Pacific Holdings posted a 53% increase in earnings to $19.9 million for 2Q16 on fair value gains.

The property group recorded a three-fold increase in other operating income to $18 million, arising from a higher fair value gain on its investment property in Sydney.

For the quarter to June, revenue rose 5% to $98.4 million. Revenue from property development revenue rose 5% to $83.5 million contributed by higher sales from Trilive, LIV on Sophia and LIV on Wilkie, but partially offset by lower revenue from Jade Residences and Whitehaven.

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