Quality Houses Public Company Limited was so pleased with the Q2/ 2013 revenue of more than Baht 6,100 million and the net profit of more than Baht 1,108 million at the leap of 129%.
Mr. Rutt Phanijphand, President & CEO of Quality Houses Public Company Limited said that in the second quarter of this year, the Company reported the total revenue of Baht 6,100 million which increased by Baht 3,442 million or by 129% from the same period of last year.
The revenue consisted of the revenue from sales of real estate Baht 5,780 million increasing by Baht 3,415 million or 144% from the same period of last year and the revenue from office rental and services' Baht 90 million, hotel rental and services' Baht 189 million, and other revenues' Baht 41 million. In the second quarter, the Company's net profit was at Baht 1,108, increasing by 241% from the same period of last year, and the 6-month accumulated net profit was at Baht 1,698 million, increasing 173% from the same period of last year. In addition, the sales volume for the six-month period was at more than Baht 12,500 million, accounting for 63% of the sales target of 2013 at Baht 20,000 million, increasing by 20% of last year. The Company still maintains its target revenue at Baht 18,000 million.
"The Company is very pleased with its revenue in the second quarter, especially the revenue from the sales of real estate which grew by 144% from the same period of last year and grew by 90% from the first period of this year. The revenue of sales of real estate consisted of 55% of housing projects worth Baht 3,180 million, increasing by 65% from the same period of last year and 45% of condominium projects worth Baht 2,600 million, increasing by 500% from the same period of last year. The growth of the condominium projects sales revenue came from the transfer of the 3 completed condominium projects, namely, Casa Condo Asoke-Din Daeng, Casa Condo Changpuak Chiang Mai, and the Trust Condo Ratchada-Phraram 3. At present, the Company's backlog is at around Baht 10,500 million which will be gradually recorded within this year around Baht 3,700 million, Baht 3,300 million in 2014, and Baht 3,500 million in the following year. In this year, the Company has developed projects to response the demand of the middle-low housing market segment. As a result, it has caused the increase of the Company's sales revenues. In addition, the Company's subsidiaries, namely, The Confidence Co., Ltd., and Gusto Village Co., Ltd. have focused more on the business expansion to provinces", said Mr. Rutt.
For the first 6-month period of 2013, the Company and its subsidiaries had totally sold 8 projects, consisting of 6 housing projects worth Baht 6,631 million, 2 condominium projects worth Baht 5,550 million. Moreover, there were two housing and condominium projects completely sold out, namely, Casa Condo Sukhumvit 97 and the Trust Town Ratchaphruk-Rattanathibet.
In the second half of this year, the Company has a plan to launch 11 projects worth Baht 6,437 million, consisting of a project the premium singled-detach house project in Chiang Mai of under "Quality Houses" brand, a singled-detach house project in Bangkok and a condominium project in Chiang Mai of under "Casa Ville" brand, a singled-detach house project in Bangkok and 2 condominium projects in provinces under "The Trust" brand, a newly developed singled-detach house project in Bangkok, 3 townhome projects in Bangkok and a townhome project in a province under "Gusto" brand.