I suspect it has been installed like that so that the vent louvers face away from the wind so that it isn't directed straight down the duct, which it would if it they faced the other way. If it's a vent from a bathroom there's a risk that the moist air coming out of the vent could enter the loft space though the vents in the soffit. So, personally I would have preferred it vented out through the roof, but it becomes a bigger job.
@stem that makes sense. I was also thinking the channel would be visible other way around which doesn't look pleasing and more chance of flys getting in.
It's an extra bathroom so won't be used much and there's a window also.
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