Listed property developer Sansiri recorded a 75 percent growth in profits in 2014, generating THB3.39 billion and setting a new high in annual profitability for the company in the process.
A spokesperson for the developer said: “Our operating results in 2014 generated THB3.393 billion in net profit, a significant rise from the THB1,929 billion achieved the year before.
“In Q4 2014 alone, the company produced THB1,232 billion in net profit – an impressive performance which marked a number of noteworthy record; the highest quarterly profitability in 2014; a 55 percent growth quarter-on-quarter over Q3 2014; and a 13 percent rise year-on-year in comparison with Q4 2013.
“We are delighted to see that the thoroughly impressive operating results of 2014 were, to a large extent, a result of the highly successful ‘Engineer for Growth’ or EFG business strategy which was introduced during the year. The strategy contributed greatly to reducing our selling, general and administrative expenses, as well as, to increasing ownership transfers and profitability.
“Looking forward into 2015, we are targeting a total revenue of THB34 billion- an ambitious 15 percent rise from the already impressive 2014. We are confident in achieving this target because we have a standing pre-sale backlog valued at THB36,721 billion Baht – THB20,000 billion of which is scheduled to be acknowledged during the course of 2015 and the remaining will be acknowledged over the next three years.”
Image: Khun Srettha Thavsin, the President and a Director of Sansiri.
Andrew Batt, International Group Editor of PropertyGuru Group, write this story. To contact him about this or other stories email andrew@propertyguru.com.sg
