Hot News: Singha Estate Net profit 104 m.
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Singha Estate
Net profit 104 m.

Singha Estate reports total income from sales and services for the first quarter of 2024 of 4,034 million baht, an increase of 21% YoY and net profit of 104 million baht.

Thitima Rungkhwansiriroj Chief Executive Officer of Singha Estate Public Company Limited or 'S' revealed that For the first quarter results, this is a performance that reflects the success that Singha Estate intends to deliver. customers all along To create value and sustainable growth With 'Best in Class' quality standards as well as a strategy for improving the performance of assets in every portfolio over time. As a result, every product of Singha Estate receives confidence and good response from the market in every product and service. This is reflected in the successful opening of new markets from many projects, such as the Sarin Ratchaphruek Sai 1 project, The Extro Phayathai-Rangnam project, as well as the S Ang Thong Industrial Estate project, which is considered proof of success from investment. and create added value for Singha Estate business very well. In addition, in the hotel business in many countries in which we operate. There are positive signs continuing from the first quarter with room bookings in the next 3-6 months increasing from the same period last year. This is a measure of the success of our aggressive marketing strategy. Both adding sales channels to reach new potential markets and effective pricing strategies. Similar to the operating performance trend of SO/Maldives Hotel, a new luxury hotel that was just opened at the end of 2023, it has begun to show a continuous improvement. This will be an important support for the company. Able to achieve the performance goals set in 2024.

Singha Estate is confident in pushing for a new high in revenue within this year, reaching 18,000 million baht successfully, with signs of continued improvement in performance from the end of 2023 in the residential business, such as the Siranitha brand housing project. Residences and Sarin Including the start of revenue recognition of The Extro Phayathai-Rangnam project at the end of the first quarter and on May 14, 2024, Singha Estate is ready to launch 2 new projects SHAWN Panya Indra and SHAWN Wongwaen Chatu. Bright Single-detached houses in the Premium Luxury segment to penetrate new market segments in potential locations in the Ramintra area. In addition, at the end of the year, the company plans to launch 4 new projects, divided into 2 horizontal projects and 2 condominium projects, with a total value of 10,000 million baht. As a result, by the end of 2024, the company will have projects developed and There are a total of 14 projects waiting to be sold, with a total value of more than 37,000 million baht. The company has set a target for residential business revenue growth in 2024, increasing approximately 50% from the previous year. Part of which comes from sales awaiting the gradual transfer of ownership (Backlog) that is on hand for approximately 3,000 million baht, which is expected to be gradually delivered and recognized as income within 2024.

Another important driving force driving Singha Estate's operating results is the hotel business that has expanded along with global tourism. There are strong points in the location. and the market position of the hotels in the Company's portfolio. which stands out both in terms of stay experience that meets the trend of experiential tourism (Experiential Tourism) today and environmentally friendly vacations (Ecotourism) as well as delivering impressive products and services. Moreover, in 2024, there will be an aggressive marketing strategy to attract a more diverse group of tourists. To increase the efficiency of the portfolio By continuously improving the hotel's potential Especially hotels in Thailand and hotel ports in the UK including product and service development plans to create a foundation for sustainable growth

Thitima added, For the other two assets that are in the market expansion stage, namely the S Oasis office building and the sale of S Ang Thong Industrial Estate, they can continue to expand from the target customer group. Therefore, the tenants will gradually enter the space to use. Main and specific marketing in each industry It will help drive the acceleration of space sales in the next period to have an even better trend. This will affect the performance of the commercial real estate business. and industrial estates and infrastructure Generate income as targeted. For Singha Estate, 2024 is considered to be the year of the harvest. From the foundation and investment projects that the company has been developed over the past 2 - 3 years, so we are confident in achieving the company's total revenue target. continuously reaching the highest level in history With a strong profit growth rate and maintaining strict financial discipline To create sustainable growth of the organization along with creating value for all sectors.

Singha Estate Public Company Limited or S announces operating results for the first quarter of 2024 with total income of 4,034 million baht, of which 997 million baht is income from real estate sales, which has grown more than double. This is due to many factors, such as (1) the recognition of land ownership transfers in S Ang Thong Industrial Estate after the land development and public utility systems are completed at the end of 2023 (2) the start of condominium ownership transfers in the first quarter of The EXTRO Phayathai-Rangnam project. Meanwhile, revenue from service business amounted to 3,037 million baht, expanding continuously as a result of (1) commercial real estate business income which grew 12% from the previous year. In line with the increase in the rental rate of the S-OASIS building, supplemented by (2) income from the hotel business that increased by 8%.

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