Developer Sansiri sees net profit surge 162% in the first half
Net profit at Sansiri Plc surged 162% year on year to 3.2 billion baht in the first half on strong sales of high-end houses and furnished condos, the company’s CFO, Wichan Viriyaphusit, said.
Second quarter net profit was 1.62 billion baht, up 77% from the year-ago period. The profit margin for the six-month period was 17.3% compared to 9.3% in the first six months of last year.
Revenue totalled 18.93 billion baht in the first half, up 42% year on year.
Revenue was driven by higher-than-expected sales from upscale projects like Narasiri Paragon – Watcharapol.
The Sethasiri Don Muang project, the first Sansiri single detached homes, contributed to the success. The project included 10 new developments totalling 21.9 billion baht. The success of these initiatives highlighted Sansiri's brand expansion to a wider range of customers.
Strong first-half sales also flowed from sales of furnished condos, signalling a strong recovery in the condominium market.
Sansiri plans to introduce 39 new projects worth 56.7 billion baht in total in the second half.
Wichan said the company's board of directors had approved an interim dividend payment of 10 satang per share.
