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Supalai sales sink 11%

Bangkok Post Mar 5, 2009 The listed developer Supalai Plc has recorded an 11% year-on-year drop in sales to 1.37 billion baht from 1.55 billion due to a slow start in January, said Varunee Lapitananuvat, assistant managing director for finance and accounting. The company generated sales of about 360 million baht in January and 900 million in February when it launched three projects, causing sales to pick up. Atip Bijanonda, deputy managing director, said consumers were still uncertain but the situation should improve in the second half when sales are forecast to catch up with the company's target. "We're confident we can achieve the sales target of 10 billion baht this year as our five new low-rise projects would help contribute about one billion baht and another one billion would come from new condo projects," Mr Atip said. The company plans to launch 11 projects this year, seven low-rises and four high-rises, worth a combined 13.875 billion baht. It has 36 ongoing projects with sales value worth 13.65 billion baht. Currently, Supalai has a sales backlog of 14.15 billion baht to be transferred in the next three years. About 5.919 billion would be transferred this year. Supalai last year recorded total revenue of 6.242 billion baht, up 25% from 2007, with net profit up 31% to 1.069 billion. Shares of Supalai (SPALI) closed yesterday at 1.94 baht, up seven satang, in trade worth 6.85 million baht

 

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