Roxy-Pacific’s 3Q15 profit up 7% to $13.3m

The hotel segment’s poor performance offsets PATMI growth.

Increased contributions from the property development and investment property segments drove the company’s 7% YoY PATMI increase to $13.3m from 3Q14’s $12.4. A news release from Roxy also revealed the company’s 3Q15 gross profit to be at $23.1m, a 30% rise from 3Q14’s $17.7m.

Roxy-Pacific’s hotel segment’s contributions partially offset the company’s 3Q15 PATMI, according to a report by OCBC. The revenues from the hotel ownership segment slid 7% YoY to $11.6m in 3Q15, reflecting a RevPAR dip YoY from $174.2 to $160.

Higher property revenues, which increased 40% YoY, along with and higher office rental income also led to a 31% YoY rise to $87.7m in overall revenue.