Lower revenue of $246.81m dragged its growth.
Roxy-Pacific Holdings Limited reported that its profit decreased by 41% YoY to $29.4m in 2017, from $49.8m in the previous year.
Its revenue also declined by 36% YoY, from $385.37m to $246.81m.
This was dragged by lower revenue from Roxy-Pacific’s property development (-41% YoY to $191.8m) and property investment segments (-13.6% YoY to $10.8m). The two segments made up 78% and 68% of the company’s turnover for the year, respectively.
Further, cost of sales fell by 38% YoY from $304.2m to $187.3m in 2017.
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