Oxley (S$0.44): 3QFY16 earnings boosted by one-off gains; gearing remains elevated
-3QFY16 net profit $51.2m (+329% y/y)
-bottom line mainly boosted by one-off gains.Excluding one offs, earnings would have fell 4%
-3QFY16 revenue $202.6m (+33%)
-Gross margin expanded 2ppt to 32%
-Net gearing eased to 2.8x from 3.6x in Jun'15, but still much higher than peers
-Trading at 2.4x P/B
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