SC Asset readies 17 projects after posting strong results
SC ASSET Corporation, after posting gross income of Bt14.504 billion for last year, plans to launch 17 projects worth Bt27 billion in 2017.
The company made Bt1.968 billion in net profit and is proposing a dividend of Bt0.19 per share.
Nuttaphong Kunakornwong, chief executive officer, said the company’s operating results in 2016 grew in terms of income and profit, “due to our strategy to create income and effectively manage expenditure”
“SC maintained our leadership in the detached housing market, priced at Bt20 million upwards, and enjoyed a 21 per cent increase in income from the detached house segment priced between Bt5 million and Bt10 million.
“The total ownership transfers exceeded our expectation thanks to the government’s real estate stimulus measures in the first four months of last year, coupled with the company’s effective cost management and optimisation of digital marketing. The net profit recorded was the highest in the past 14 years.”
Of SC’s gross of Bt14.054 billion for last year, Bt14.434 billion came from operations, up by 3 per cent compared with 2015.
The company’s main income came from residential developments, at Bt13.678 billion or 95 per cent of total operating income. The remainder, Bt756 million, came from office building leasing and service business.
SC’s net profit of Bt1.968 billion - 13.6 per cent of gross income – was 4 per cent higher than year’s.
With earnings per share of Bt0.47 , SC’s gross sale revenue reached Bt11.612 billion . As of December 31, SC and its subsidiaries’ assets and liability were Bt33.487 billion and Bt19.046 billion, respectively.
SC reported debt to equity ratio of 1.32 times. SC’s board, after reviewing the operating results for 2016, will seek approval from shareholders to pay the Bt0.19 per share dividend. The dividend will be paid on May 19.
According to the business plan in 2017, SC has 49 projects for sale with a combined value of Bt54 billion. Seventeen of them are new projects, worth Bt27 billion; the other 32 are continuing projects worth Bt27 billion.
In the first quarter of this year, the company will launch four projects worth a combined Bt11 billion, including two projects valued at Bt2.2 billion: Headquarters Ekamai-Ladprao and The Gentry Sukhumvit. In addition, SC will launch two condominium projects worth a combined Bt8.8 billion, including 28 Chidlom and Chambers Cher Ratchada-Ramintra.
