Friday, February 18, 2011


Roxy-Pac: Solid set of results, full yr rev at 216.9m +32.6%yoy, net profit at 42.8m +53.3%. 4Q rev was $47.5m +7.8%yoy, net profit was $12.0m +103.2%yoy Strong profit figures were partly due to a fair value gain of $5.6m in this quarter as well as better operating results and sales. In 4Q, rev from all segments increased and core Property Dev made up 74% of rev with a 5% yoy increase to $35.3m as co recognised rev from 7 dev projects in 2010…

Hotel segment rose 16% for the quarter with a 21% increase in RevPar mainly due to raised hotel rates. Average occupancy rate was up to 93.6% from 93.0% prev 4Q. NAV of 26.7c translates to a current P/B of 1.7x.

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