SC achieves aggressive presales growth in both horizontal and vertical residential projects, reaching a record high of 12.02 billion baht in the first half of this year

02 September 2022

Thailand’s top property developer has also shown strong growth in both revenue and net profit in the first half of 2022, while the company’s board of directors has agreed to pay dividends of 0.08 baht per share.

SC Asset will also establish a new subsidiary – SCX One Co Ltd – to expand investment and generate profits in this new era of property market segmentation.

Mr. Nuttaphong Kunakornwong, chief executive officer of SC Asset Corporation Plc, said he is confident that the company will successfully generate a total revenue of 22 billion baht this year, up 10% from 2021.

In the first half of 2022, the company successfully generated 12.02 billion baht in presales, covering 55% of its total presale target of 22 billion baht.

Its growth in terms of presales, total revenue and net profit is as follows:

1. Total presales in the first half of this year was recorded at 12.02 billion baht, up 6% from the same period last year. The presales can be divided into 9.837 billion baht from horizontal residential projects, up 5% from the same period last year, and 2.183 billion baht from vertical residential projects, up 13% from the same period last year.

2. Total revenue in the first half of this year came in at 9.068 billion baht, up 4% from the same period last year.

3. Net profit in the first half of this year came in at 969 million baht, up 4% from the same period last year.

Thanks to the company’s strong financial results in the first half, the company’s board of directors has approved the following:

1. Paying an interim dividend of 0.08 baht per share as of September 7, 2022.

2. Establishing two subsidiaries in the third quarter of this year, namely SCX One Co Ltd with a registered capital of 100 million baht and SC Asset Four Co Ltd with a registered capital of 50 million baht.

SC Asset, a leading property developer that aims to deliver Living Solutions to homebuyers, is confident that it will achieve its revenue target of 22 billion baht this year, because there has been a strong demand for new homes.

The company has a total of 61 projects worth 59 billion baht up for sale, including 44 existing residential projects worth 33 billion baht and 17 new projects worth 26.3 billion baht that will be introduced to the market this year.

Of the 17 new residential projects, 16 projects worth 23.8 billion baht are horizontal residential estates, while one is a condominium project worth 2.5 billion baht located close to the BTS Thong Lor station in Sukhumvit. This condominium is being developed under its subsidiary SCOPE Co Ltd.

Meanwhile, the company will generate revenue from the transfer of three condominium projects, which will be completed in the fourth quarter of this year. They include The Crest Park Residences , SCOPE Langsuan and SCOPE Promsri.

“2022 has been a challenging year full of volatility, but SC Asset has done well because its corporate culture (#SCskydive) focuses on customer care and flexibility, including preparation for a strong financial position,” Mr. Nuttaphong said. “SC will be able to grow sustainably in the new world, and deliver value to both people and the environment.”

As of June 30, 2022, the company’s total assets stood at 51.773 billion baht and total liabilities at 31.465 billion baht. The company’s book value is 4.81 baht per share and debt-to-equity ratio (D/E) 1.55 times.

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