The significantly lower profit and earnings were attributable to the lower revenue streams coupled with higher finance costs resulting from rising interest rates, as well as lower mark-to-market fair value gain on derivative financial instruments.
For the 1HFY2023 ended Dec 31, 2022, Oxley Holdings saw its earnings plunge by 98.8% y-o-y to $277,000 from $23.5 million previously.
The group’s pre-tax profit for the same period stood at $4.6 million, which is down by 83.0% y-o-y. Profit for the period fell by 91% y-o-y to $2.2 million.
