Sansiri posts healthy mid-term results

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Bangkok based developer Sansiri Plc. has announced that its performance during the first half of 2014 generated a net profit of 1,367 million baht, a noteworthy 214% growth or more than double the 434 million baht profit achieved during the first half of the previous year. 

Specifically, during Q2-2014 alone, the company generated 5,863 million baht in sales, a growth of 41.2% from that of Q1-2014, as well as achieved 537 million baht in net profit.  Seven more projects, both in Bangkok and upcountry, are scheduled to begin their ownership transfers during Q3-2014, further contributing to even greater revenue and profit for the company, as part of its ‘Engineer for Growth’ business strategy.

A spokesperson for the company revealed: “We finished last year with a net profit of 1,929 million baht.  But this year, during the first half alone, we have already achieved a net profit of 1,367 million.  We anticipate that the figures will be even more positive over the second half of this year when we are scheduled to acknowledge much of our backlog revenue from ownership transfers from up to 14 projects.

“In addition, with our new ‘Engineer for Growth’ business strategy now fully implemented, we are even more confident that our net profit this year will be significantly greater than that of last year.  We have already seen positive results from some of our short term business plans, which contributed to a noticeably higher net profit during Q2-2014.

“We anticipate a lot more positive results coming from our mid-term and long term plans as well.  For example, our new ‘value chain’ operation – which incorporates product design, procurement and construction teams into one integrated unit – will significantly improve both our construction quality and cost management.  This should lead to notably fewer construction problems and eventually translate into higher net profits for the company in the long term.”