Page 1 of 22014 was Roxy-Pacific's 10th consecutive year of record profit attributable to shareholders (S$96.7 million) and it proposed a final dividend of 1.297 cents a share, bring the total dividend to 1.913 cents for the year.
Its revenue, however, dropped 14% to S$317.8 million of which property development accounted for 83%, or S$263.3 million.
Roxy-Pacific still has $656.6 million of pre-sales to be recognised from 1Q this year till 2018.
Of that, $141.4 million is attributable to Centropod@Changi which obtained its TOP (Temporary Occupation Permit) in January this year.
(Gross profit from Centropod is estimated to be S$55 million).
While the Singapore property market is expected to continue to face a lull due to the government's cooling measures, Roxy-Pacific will still be able draw on its property investment segment for stable recurring income.
There's Roxy Square in Singapore (S$1.7 million in annual gross income) and its maiden venture in Australia -- an office property in Sydney -- which will contribute its first full-year income of S$11.2 million.
Next is the Grand Mercure Roxy Hotel in Singapore, which contributed S$47.9 million in revenue last year.
Roxy-Pacific is sitting on a war chest of $415 million in cash and cash equivalents as well as a $200-million multicurrency medium term note programme. Its gearing is a low 0.58 times.
Its share price closed at 56 cents recently, a discount to its adjusted net asset value of 72.1 cents a share.
For details of the FY2014 results, see Roxy-Pacific's Powerpoint materials.
Next page: Highlights of the Q&A session »»