Compared to their earnings during the third quarter of 2014, Roxy-Pacific Holdings Ltd. said recently that they recorded an increase in their earnings for their sales this year. From SG$12.37 million last year, 2015’s third quarter profit has reached SG$13.25 million or equivalent to 7 percent improvement in their earnings. The company’s revenue skyrocketed by as much as 31 percent, recording a SG$87.65 million worth during Q3 2015 whereas their last year’s third quarter revenue only reached SG$67.16 million.
Much of their total revenue for this year’s third quarter was all thanks to their new Singapore property developments. From SG$52 million last year, it jumped 40 percent higher reaching SG$72.8 million for this year. Some of the development projects accounted for the 83 percent of revenue include LIV on Wilkie, Whitehaven, Sunnyvale Residences, Jade Residences and Trilive to name some. However, this does not include any sales from Space @ Kovan since it only acquired its TOP or temporary occupation permit last May 2015. Other projects such as the Treescape, the Spottiswoode 18, and The MKZ acquired its respective TOPs last 2014.
Meanwhile, the revenue contribution coming from their hotel industry went down by 7 percent for 2015’s Q3, gathering only SG$11.6 million for the said quarter. Though the AOR or average occupancy rate of Grand Mercure Roxy Hotel maintained a high figure of 94.8 percent, they lowered their room rates to SG$168.80 from last year’s rate of SG$184.50 for their average price. On top of that, the revenue recorded for every available room also lowered to SG$160 this year from SG$174.20 last year of the same quarter.
Last July 2014, Roxy-Pacific acquired the office block located at 59 Goldburn Street. This property investment is now accounted for 2015’s Q3 investment income and increased from SG$3.2 million from SG$2.7 million last year due to their earnings from office space rentals.