Roxy-Pacific’s net profit plunged 79% to $9.9m in Q1
Due to absence of profit recognition from Centropod.
Roxy-Pacific suffered a 79% year-on-year decline in net profit for the first quarter. The group’s net income stood at $9.9m for the first three months of the year, dragged by the absence of contributions from Centropod@Changi.
The group’s revenue also dropped 48% to $103.0m, though it was partly offset by higher hotel earnings on back of contributions from the newly-opened Noku Kyoto.