Supalai Public Company Limited (SPALI) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:
SPALI reported a 2Q2019 net profit of THB 766.15 million or decrease of THB 578.40 million or 43% YoY, mainly due to the decrease in revenue from sales of real estate. Therefore, basic earnings per share was Baht 0.36 per share or decrease from THB 0.71 per share YoY.
The revenue from sales of real estate in the amount of THB 4,320.05 million or decrease of THB 1,980.70 million or 31% YoY, divided into the revenue of 54% from the transfer of ownership of detached houses and townhouses and the remaining 46% was from the transfer of ownership of condominiums. The revenue was decreased because the new finished condominium projects were transferred in the end of second quarter of 2019. While in the second quarter of 2018, the new finished condominium projects were transferred since April 2018. In addition, the Bank of Thailand announced the criteria to supervise housing loans by adjusting the maximum loan-tovalue (LTV) ratio, which will be effective from April 1, 2019 onwards. This reason affected on some customers to transfer of ownership in this first quarter.