SPALI’s 3Q Profit Drops 4% to ฿1.2Bn due to Lower Gross Margin

Supalai Public Company Limited (SPALI) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

SPALI’s net profit in 3Q20 was Baht 1,216.57 million, a decrease of 4% from the same period of the last year, mainly due to a lower gross profit margin from the increase in portion of revenue from ownership transfer of single detached houses and townhouses. 

 

The revenue from sales of real estate in the amount of Baht 5,824.19 million, an increase of 3% from the same period of the last year, divided into the revenue of 66% from the transfer of ownership of detached houses and townhouses and the remaining 34% was from the transfer of ownership of condominiums. The revenue was increased because two finished condominium projects were transferred in the third quarter of 2020 onwards.

 

Selling and administrative expenses / total revenue ratio was 11.0%, slightly decrease from 12.1% when compared with the same period of the last year.