ORI’s 2Q19 Profit Reaches ฿737m from Higher Recognition in Real Estate Revenue

ORI’s 2Q19 Profit Reaches ฿737m from Higher Recognition in Real Estate Revenue.

Origin Property Public Company Limited (ORI) as reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

ORI recorded a net profit of 2Q in 2019 THB 737.29 million. The revenues from sales of real estate, in the period of the six-month period ended June 30th, 2019, the accumulated amount of THB 5,826.2 million, or 85.8% from the total revenues, an increase of THB 213.6 million, or 3.8% YoY.

As a result of that The Group were able to recognize revenue consistently, due to the completion of 21 projects in the year 2018, and another 6 newly completed project transferred on June 2019 (B-Loft Lite Sukhumvit 115 B, Britannia Mega Town-Bangna, Britania Bangna-KM.12, Kensington Sukhumvit – Theparak, Knightsbridge Phaholyothin Interchange, and Britania Wongwaen—Hathairat) thus increasing The Group revenue recognition even more.
The Group generated a net profit, in the period of the six-month period ended June 30th,2019, accumulated amount of THB 1,457.5 million, or 21.5% from the total revenue, a decrease of THB 50.8 million , or 3.4%, due to Gain from transfer of right for land purchase and sale agreement THB 312.0 million in 2018, however The Group still maintain a high net profit margin at 21.5%.

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