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Supalai aims for 20% rise in revenue

Bangkok Post May 19, 2009

Supalai Plc expects 20% revenue growth this year as it maintains plans to open 11 new developments amid steady demand in the Bangkok property market.

Warunee Lapithananuwat, a Supalai vice-president, told investors yesterday that first-quarter revenues were "satisfactory", with realised revenues of 2.03 billion baht from its sales of condos, detached homes and townhouses.

Supalai, which posted 6.24 billion baht in sales last year, projects another 4.67 billion in realised sales from April to December.

"We have confidence that the company can reach its target growth for this year, as there will be revenue from old projects that will contribute to our growth," Ms Warunee said.

Supalai director Tritecha Tangmatitham said the company plans to open 11 new projects this year with total investment of 14.16 billion baht.

Four of the projects are high-rise condominiums and the rest are residential townhouses and detached-home projects.

"The company has confidence the projects will be well-received by customers, given that our sales have picked up since February," Mr Tritecha said.

Gross profit margin this year is expected to be 44%, up slightly from 39% last year.

Mr Tritecha said the company expects net profits this year will be higher than last year's 1.07 billion baht.

The company posted first quarter profits of 541 million baht, up from 172.93 million the same period last year.

Shares of SPALI closed on the Stock Exchange of Thailand at 2.92 baht yesterday, up eight satang, in trade worth 39.28 million baht.