SPALI’s Earnings in 1Q21 Remain Flat at ฿741Mn

Supalai Public Company Limited (SPALI) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

SPALI’s net profit was Baht 741.08 million, a decrease of Baht 8.88 million from the same period of last year, representing a decrease of 1%, mainly due to the revenue from sales of real estate was Baht 3,602.52 million or slightly decreased about Baht 18.10 million from the same period of the last year, divided into the revenue of 71% from the transfer of ownership of detached houses and townhouses and the remaining 29% from the transfer of ownership of condominiums. 

 

In this year, SPALI has finished condominium projects to be transferred in the second half of the year. 

 

Meanwhile, selling and administrative expenses to total revenue was 15.7% that was increased from 13.2% of the last year. The increase was partly due to a decrease of approximately 2% in total revenue and the increase in the sales-related expenses from the condominium transfers.

 

Although the net profit decreased, the basic earnings per share increased to 0.38 baht per share. The previous year basic earnings per share was Baht 0.36 per share. This is due to the share repurchase program for financial management purposes. As at March 31, 2020, the Company has the weighted average number of ordinary shares of 2,108 million shares, while as at March 31, 2021 is 1,948 million shares. The company has already bought back the shares as specified in the share repurchase program on July 10, 2020.