ThaiHome Posted August 13, 2009 Report Share Posted August 13, 2009 QH, AP do well in spite of slowdown Published: 12/08/2009 at 12:00 AM Newspaper section: Business Link The listed developer Quality Houses Plc reported a second-quarter consolidated net profit of 474 million baht, up 10% year-on-year, on total revenue of 2.997 billion baht, a 2% increase from the previous year. During the period, the luxury-home developer realised 2.716 billion baht in revenue from sales of land and houses and earned 70 million baht from rentals of space in office buildings, 189 million baht from rentals of serviced apartments and 22 million baht from other products and services. For the six-month period, QH posted a consolidated net profit of 766 million baht, up 4% year-on-year on the total revenue of 5.23 billion baht. In its report to the Stock Exchange of Thailand, QH said its revenue from sales of land and houses increased in the second quarter by 3% but dropped by 1% for the six-month period because market conditions deteriorated from January to April as political uncertainty continued to affect consumer confidence. The scenario was different at Asian Property Development Plc, which reported 350 million baht in consolidated net profit in the second quarter, down 29.4% year-on-year, on total revenue of 2.4 billion baht, down 6.5%. The company said its net profit fell significantly due to the reduction in revenue realisation. of which the portion with high gross profit margins from condominiums dropped to 40% of total revenue, compared with 53% in 2008. But over six months, AP posted high growth in its consolidated net profit at 830.38 million baht, up 28.25% from 647.54 million, on total revenue of 5.25 billion baht, up 34.6%. Anuphong Asavabhokhin, AP's chief executive, said the improved market sentiment resulted in AP's total sales of 7.089 billion baht in the first seven months of 2009, with backlog sales of 14.323 billion baht - 11.698 billion from condominium sales and the rest for low-rise units. QH shares closed yesterday on the SET at 1.75 baht, up one satang, in trade worth 275.29 million baht. AP shares closed at five baht, up two satang, in trade worth 36.25 million baht. Link to comment Share on other sites More sharing options...
Sakai Posted August 13, 2009 Report Share Posted August 13, 2009 Though my girlfriend didn't receive any additional bonus. Link to comment Share on other sites More sharing options...
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