Published:
Oxley's net profit down 15% in Q2 to $31m
Due to higher finance costs.
Property developer Oxley Holdings today reported that its net profit decreased 15% year-on-year to $31m. Its profit before tax decreased to $40.72m for Q2 from $45.80m for 2Q2014.
This was mainly attributable to decrease in other credits of $17.51m, increase in finance costs of $2.47m, decrease in share of profit from equity-accounted joint ventures of $2.09m and increase in marketing and distribution costs of $1.19m, offset by decrease in other charges of $10.93m, increase in gross profit of $5.52m and increase in interest income of $0.94m.
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