SPALI Records a Decline of Profit in 2020 by 21%, Holding on to a Backlog of ฿37.5Bn

Supalai Public Company Limited (SPALI) has reported its yearly consolidated financial statement of 2020 the Stock Exchange of Thailand as follows;

SPALI reported a net profit of 4,251 million baht in 2020, decreased 21.31% from a net profit of 5,402 million baht in 2019. The decrease was mainly due to the decrease in revenue from sales of real estate.

 

The revenue from sales of real estate in the amounting of 20,336.14 million baht, decreased of 2,888.24 million baht or 12% from the last year. The revenue portion could be divided into the revenue of 68% from the transfer of ownership of detached houses and townhouses and the remaining 32% from the transfer of ownership of condominiums. The decrease in revenue was because of COVID-19 pandemic in the previous year.

Additionally, the company has four finished condominium projects to be transferred in the second half of 2020.

 

As of December 31, 2020, the company and its subsidiaries have backlog revenue from waiting to be transferred to the ownership of house and/or condominium 37,564 million baht. The company and its subsidiaries expect to transfer an additional 16,192 million baht of these backlogs over the year 2021, and 21,372 million baht over the next 3 years.

 

In addition, the Board of Directors approved a dividend payment of ฿0.50/share to be paid on May 14, 2021. The ex-dividend date is April 29, 2021.