Singapore property developer Oxley Holdings has posted a S$14.6 million net profit in the financial year ended 30 June 2011, on the back of a S$70.9 million full-year revenue.
The company said that during the financial year, it acquired a total of 11 land parcels, including two commercial plots along Robinson Road, four industrial parcels and five residential sites. It also launched eight residential projects, such as Loft@Holland, RV Point, Viva Vista, Devonshire Residences, Vibes@Kovan, Vibes@East Coast and Loft@Stevens.
Five residential developments have been fully sold, while Devonshire Residences, Suites@Braddell and Vibes@East Coast have been 98 percent, 97 percent and 80 percent sold respectively.
The company noted that its full-year revenue was mainly attributed to the good sales recognition of Loft@Holland, Viva Vista and RV Point projects, as well as from the sales of Loft@Rangoon, Suites@Katong and Parc Somme developments, which were launched prior to FY2011.
In line with its profitable results, Oxley has proposed a first and final cash dividend of 0.45 cents per ordinary share amounting to S$6.7 million and equivalent to a 50 percent dividend payout ratio.
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