It is a company always has surprised me, both rise and fall...
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Oxley’s 1Q earnings plunge 96% to $10.1 million
By PC Lee / TheEdge Markets.com | November 14, 2014 : 6:40 PM MYT
SINGAPORE (Nov 14): Developer Oxley Holdings ( Financial Dashboard) saw 1Q14 earnings fall 96% to $10.1 million, or 0.34 cents per share, from $250.8 million a year ago.
Profit before income tax came in at $25.6 million compared to $307.29 million a year dur to lower revenue and gross profit, as well as higher marketing and distribution costs and finance costs.
1Q15 revenue plunged 82% to $120.3 million from $685.9 million mainly driven by revenue recognition based on the percentage of completion method from progress made in the construction of 11 mixed-residential projects including RVPoint, Vibes@EastCoast, OxleyEdge, Suites@Braddell, ThePromenade@Pelikat, Vibes@UpperSerangoon, Presto@UpperSerangoon.
Oxley said the group remains cautiously optimistic on the business outlook for the next 12 months where factors that may significantly affect the group’s financial performance include the cumulative impact of the various cooling measures introduced by the Singapore government on the property market; the health of the Singapore economy and the recovery of the global economy, especially in China, Europe and the US.
Oxley ended today 1% at 52 cents.
http://www.theedgemarkets.com/sg/article...01-million