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Oxley's net profit shoots up 114% to $73.8 million in Q4
Thanks to lower cost of sales.
Developer Oxley Holdings was definitely on a roll in Q4, as slipping sales expenses boosted profits.
For the quarter ending in June, its net profits jumping by a whopping 114% to $73.8 million. This is despite a 15% slip in its revenue to $165 million.
A decrease in cost of sales of 20% from lifted the group's bottomline, alongside contributions from the group's overseas markets.
On a year on year basis, Oxley's net profit in FY 2016 leaped 162% to $206 million, with revenue rising 40% to $981 million.
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