Britania Public Company Limited (SET: BRI) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
BRI reported a net profit of 164 million baht in 3Q21, increased 140% from a net profit of 68.35 million baht in 3Q20. The increase was mainly due to its outstanding revenue recognition from sales of real estate that rose from 541 million baht in 3Q20 to 1,047 million baht in 3Q21, representing an increase by 93.5%.
While total expenses rose from 458 million baht in 3Q20 to 839 million baht in 3Q21, the company recorded operating profit in the third quarter of 2021 at 839 million baht, increased by 83% from a record of 458 million baht in the same period last year.
BRI stated that the company has continuous growth in operating performance for the nine-month period of 2021, total revenues of the company amounted to 2,808 million baht, increased by 962 million baht or 52.18% from 9M20.
BRI is a spin-off company from Origin Property Public Company Limited (SET: ORI), operated as a property development which focuses on horizontal residential property, which includes but is not limited to detached houses, semi detached houses, townhomes, townhouses, and other similar properties. At present, BRI engages the detached houses development business under 4 brands: (i) “Belgravia”, luxury detached houses; (ii) “Grand Britania”, detached and semi-detached houses; (iii) “Britania”, detached houses, semi-detached houses, and townhomes; and, (iv) “Brighton”, detached houses, semi-detached houses, and townhomes. As at the end of the first quarter of 2021, BRI had 15 finished projects that are in process of sales and transfer of ownership, the value of which totaled at approximately 19,500 million baht.
The company will kick off its first trading day in the Thai stock market on December 21, 2021, with a stock symbol “BRI” after an overwhelming feedback from its IPO selling on 7-9 December and 13-15 December, especially institutional investors that made an oversubscription for more than 10 folds. The IPO price is THB10.50 per share.