Shares & Derivatives
Oxley Holdings only made S$0.73mn net profit in Q2-2011 and S$2.56mn for H1-2011……disappointing on the surface or is it just a timing issue ??!!
By Kevin Scully-Financial Blog  •  February 1, 2011

Over the weekend, Oxley Holdings one of my recent stock ideas reported their Q2-2011 results.  The numbers were quite disappointing on the surface with revenue of S$5.9mn and net profit of S$0.73mn.....quite disappointing for someone that could potentially deliver S$1bn in profits if all goes well over the next three to four years.  I tried to contact management over weekend but only got some feedback last evening hence this update today.

The Q2-2011 results are important because we have the first set of post-IPO financials. In particular the balance sheet is a better reflection of what the company is.  Shareholders funds is now S$124.6mn from just S$9.7mn in 2010.   Development properties are now S$376.5mn from S$57.9mn while financial liabilities are S$332mn up from S$64mn.

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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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