Good H1 for most listed developers

According to a survey by The Nation, most property companies listed on the Stock Exchange of Thailand reported that revenue and net profit grew by more than 20 per cent compared with the first six months of last year.
Supalai reported first-half revenue of Bt12.64 billion and net profit of Bt2.88 billion, up by 24.16 and 42.57 per cent respectively.
LPN Development recorded revenue of Bt9.58 billion and net profit of Bt1.58 billion, up by 30.16 and 42.34 per cent respectively from the same period of last year.
Golden Land Property Development reported revenue of Bt5.26 billion and net profit of Bt560.77 million, up by 43.71 and 139 per cent respectively.
Ananda Development announced revenue of Bt5.48 billion and net profit of Bt358 million, up 86 and 146 per cent respectively.
Quality Houses announced revenue of Bt10.77 billion and net profit of Bt1.63 billion, up by 25.88 and 33 per cent respectively.
Sena Development reported revenue of Bt2.5 billion, up by 157 per cent, while net profit was Bt555 million, surging by 400 per cent from the first half of 2015.
But AP (Thailand) bucked this positive trend, reporting that revenue declined by 18 per cent to Bt8.6 billion in the first half, while net profit dropped by 25 per cent to Bt981 million.
Ananda Development chief executive officer Chanond Ruangkritya said the company was delighted to have achieved such strong results in the first half, particularly the 146-per-cent jump in net profit.
“The year 2016 is the beginning of an exciting period for Ananda as we enter what we refer to as our ‘Harvest Period’. We are finally about to see the investment made after the IPO [initial public offering] come through,” he said.
Chanond said transfers of homes to buyers were expected to grow much more rapidly from this year onwards.
“We have five condominium buildings finishing construction and beginning to transfer [to buyers] in 2016,” he said.